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Ascential to sell Glenigan to Byggfakta for £72.9m
StockMarketWire.com
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Information, data and analytics company Ascential said it had agreed to sell Glenigan to Byggfakta for £72.9 million.
The deal, expected to be completed in the first quarter of 2021, was subject to an EU competition clearance.
'This disposal will allow capital to be allocated to core areas of the company and in particular, the fast growing digital commerce segment, including organic investments and potential M&A opportunities,' the company said.
In the financial year ended 31 December 2019, Glenigan generated revenues of £12.2 million and adjusted earnings before allocation of central costs of £6.8 million.
Story provided by StockMarketWire.com
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