Informa to offload corporate training businesses

19th Jul 2013 09:28

Informa said it had agreed to sell its five corporate training businesses to US private equity firm Providence Equity Partners for up to 180m dollars.The publishing and conferences group will receive $165m including $100m in cash which will initially be used to pay down debt. A further payment of up to $15m will be payable in 2014 depending on the performance of the businesses being sold. Chief Executive Peter Rigby said: "The disposal of our corporate training businesses creates a more focused, higher growth, higher margin events division with more visible and predictable revenue streams, enhancing the underlying quality of group earnings."Informa plans to eventually reinvest some or all of the disposal proceeds and said it was looking for opportunities in growth areas such as exhibitions and data subscriptions. Shares in Informa were down 0.69% at 501p at 09:40 on Friday.TB