UBM confirms it is in discussions on PR Newswire sale

Intro UBM has confirmed it is in “highly preliminary discussions with a number of parties about a potential sale” of its PR Newswire business.

Twitter Facebook Google+ LinkedIn
TRO OPENS MADRID OFFICE
Sharelines

shareline 1

shareline 2

shareline 3

 

UBM has confirmed it is in “highly preliminary discussions with a number of parties about a potential sale” of its PR Newswire business.

 

A statement from the global events organiser cautioned, however, “there is no certainty that these discussions will result in a transaction being agreed”.

 

Shares in the company bounced higher on the initial news, before falling back at the close (23 September).

 

It is understood that Evercore, the investment bank, is handling the auction for PR Newswire, which has been valued at around £500m.

 

The sale could transform UBM into a pure-play events business and likely see a reduction in its debt. A strengthened financial position could signal some future muscle flexing in the acquisitions field, analysts have said.

 

Sources in the City have identified GTCR, an American private equity firm, as one potential bidder for the PR Newswire business. GTCR has bought several PR software and services companies in the United States and Gorkana, the media monitor.

Twitter Facebook Google+ LinkedIn

Related Stories

Elsewhere on EN

Eventcity to host Digital Kids Show

Eventcity to host Digital Kids Show

Manchester has been chosen to host a line-up of famous YouTubers in November, as part of the all-inclusive family day out Digital Kids Show.
Successful 2nd outing for ChileCare Expo Manchester

Successful 2nd outing for ChileCare Expo Manchester

On 16-17 June, Childcare Expo Manchester opened its doors for the second time for its return at EventCity, welcoming 1,686 visitors to the venue.
Messe Frankfurt records highest ever result in 2016

Messe Frankfurt records highest ever result in 2016

Trade fairs are still going from strength to strength in Frankfurt 777 years after the first event of this kind was held there, with sales of over €650m planned in 2017

The Showlite Heroes

Most read Stories

And the #ENAwards finalists are…

And the #ENAwards finalists are…

The countdown timer has run out. After weeks of companies submitting award entries and sweating over it, there is just one thing left to do before the big night: Announce the shortlist.
RDS launches RDS Venue brand

RDS launches RDS Venue brand

Philanthropic organisation the Royal Dublin Society (RDS) has announced that RDS Venue will be launched as a separate visual identity from the main RDS brand.
EN Awards People Finalists revealed

EN Awards People Finalists revealed

The first group of the highly anticipated shortlist for the EN Awards has been announced, including Best Newcomer and Best Event Director categories.

Latest Features

Lights up

Lights up

As Showlite celebrates its 25th birthday, founder Paul Wicks looks back on the company’s history and reflects on the industry.
Waste not, want not

Waste not, want not

Soraya Gadelrab, portfolio director – food, drink & packaging at Fresh Montgomery, on the organiser’s partnership with charity City Harvest.
Right on the money

Right on the money

After teaming up with Prysm Group to run Accountex 2016, Diversified Communications has taken the reins for this year’s show.

Latest Galleries

London Dungeon Lates

London Dungeon Lates

The London Dungeons has launched a unique nighttime experience with the theme of the seven deadly sins. The adults only tour includes seven themed food offerings and a range of themed drinks.
This Morning Live

This Morning Live

Tens of thousands of fans descended on the NEC on 18-21 May for This Morning Live, to see talent from ITVs award-winning daytime programme arrive in style.
Ideal Home Show Scotland

Ideal Home Show Scotland

The Ideal Home Show return to Glasgow for its 70th Anniversary on 26-29 May, introducing the all-new Eat & Drink Festival to Scottish fans.

Latest Opinions

National mourning

National mourning

Mark Blair, divisional director of InEvexco, considers the insurance implications of the death of a monarch.
David's Inferno: The comfort zone

David's Inferno: The comfort zone

In the first of his new series of monthly columns, Cvent’s senior marketing director David Chalmers says it’s important to break out of the comfort zone.
Show or tell?

Show or tell?

Roopi Woodall, marketing manager at the QEII Centre, asks if the art of conversation on social media is dead – and how to engage with audiences if that’s the case.