Inactive Instrument

EUROMONEY INST INV

Equities

ERM

GB0006886666

IN BRIEF: Euromoney's potential buyers enter senior facilities deal

November 21, 2022 at 09:10 am EST

Euromoney Institutional Investor PLC - London-based business information and events - Astorg Asset Management SARL, which together with Epiris GP Ltd and Epiris GP III Ltd aims to buy Euromoney, says their consortium Becketts Bidco Ltd enters into a senior facilities agreement with Ares Management Ltd and affiliates. Becketts Bidco will receive GBP30.0 million. Meanwhile, Lloyds Banking Group PLC takes over as lender under a super senior multicurrency revolving credit facility.

According to terms agreed in July, Astorg Asset Management and Epiris will pay 1,461 pence per Euromoney share, a 34% premium on Euromoney's "undisturbed" stock price of 1,094p on June 17, the final trading day before Euromoney confirmed the takeover approach on June 20. The total value of the takeover is GBP1.6 billion.

Current Euromoney stock price: 1,456.00 pence

12-month change: up 47%

By Tom Budszus; tombudszus@alliancenews.com

Stocks mentioned in the article

	Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
	ARES MANAGEMENT CORPORATION	129.5 USD	-0.90%	+0.18%	25.27B
	LLOYDS BANKING GROUP PLC	50.92 GBX	-0.16%	-0.12%	40.11B

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Euromoney Institutional Investor PLC(LSE:ERM) dropped from FTSE 250 (Ex Investment Companies) Index	22-11-24	CI
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Astorg Asset Management S A.R.L., Epiris GP III Limited and Epiris GP Limited completed the acquisition of Euromoney Institutional Investor PLC	22-11-23	CI
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Company Profile

Euromoney Institutional Investor PLC (Euromoney) is a global B2B information-services business. The Company provides actionable data, analysis, intelligence and access through three divisions: Fastmarkets, Financial & Professional Services (FPS), and Asset Management. Fastmarkets provides commodity price benchmarks and analysis. It provides prices across the supply chain from the creation of the commodity to recycling in the metals, mining, forest products and agriculture markets. The FPS division brings together complementary brands that deliver actionable data, market and people intelligence, accreditation, marketing services, and events to FPS businesses. The Asset Management division includes its brands and businesses that serve the global asset management industry: BCA Research, Ned Davis Research and Institutional Investor. This division provides independent research, runs networks and events, and provides news and data that enables clients to make informed investment decisions.

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