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Hellman & Friedman quits Informa consortium

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Date: Thursday 04 Sep 2008

LONDON (ShareCast) - In response to press speculation private equity group Hellman & Friedman has disclosed it is no longer part of the consortium contemplating a bid for publishing group Informa.

Current members of the consortium are Providence Equity Partners, The Carlyle and Blackstone Management Partners. The consortium made a preliminary 506p per share bid which values Informa at about £2.1bn.

Hellman & Friedman LLC said it reserves the right to rejoin the consortium or participate in a bid for Informa in the event of a material change of circumstances, or the lapse or withdrawal of a bid for Informa by the consortium, or the emergence of a rival bid for Informa.

Hellman & Friedman also reserved the right to re-enter the fray if given permission to do so by the board or independent directors of Informa.

In late July Informa said it had attracted the attention of a possible rival bidder to the consortium bid.

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