Euromoney engages advisers with look to sell Global Markets Intelligence
Euromoney Institutional Investor
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17:15 23/11/22
Euromoney Institutional Investor has hired investment banks to look at a potential sale of its Hong Kong-based Global Markets Intelligence division after receiving "unsolicited interest" in recent weeks.
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Euromoney has begun a review of the business that will "consider if another owner may be better placed to capitalise on continued growth opportunities for the division" and has already "engaged with advisors to assess its options".
The unit, which provides emerging markets-focused macroeconomic, company and industry reports for clients in China, India, Brazil and central and eastern Europe, generated adjusted operating profits of around $14.5m from revenue of $52.7m last year.
The FTSE 250 company said the "recent, unsolicited interest from potential buyers" confirmed management's view that the division "is an attractive asset".
Chief executive Andrew Rashbass, said, "The Global Markets Intelligence division consists of two strong brands, CEIC and EMIS. Given our strategy of recycling capital towards big investment themes like price discovery, post-trade activities, asset management and telecoms, and recent, unsolicited interest we have had in these assets, now is the right time for us to explore strategic options for these businesses."