LONDON (AFX) - United Business Media PLC said it is proposing to buy 'Theme' magazine and the 'Bar' exhibition from Mondiale Publishing for 5 mln stg in a deal that complements the Publican group of publications and events acquired by UBM in February.
'Theme' and 'Bar Show' generated EBITA of 0.6 mln stg on revenue of 2.1 mln in the year to end June 2004.
UBM expects the planned acquisition to be earnings enhancing in the first 12 months and exceed UBM's hurdle rate of return in its first year.
UBM chief executive David Levin said: "These assets represent another good 'bolt on' opportunity for UBM, allowing us to further consolidate our chosen markets. The transaction meets our strict financial criteria and moves forward the implementation of our continuing strategy."
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'Theme' and 'Bar Show' generated EBITA of 0.6 mln stg on revenue of 2.1 mln in the year to end June 2004.
UBM expects the planned acquisition to be earnings enhancing in the first 12 months and exceed UBM's hurdle rate of return in its first year.
UBM chief executive David Levin said: "These assets represent another good 'bolt on' opportunity for UBM, allowing us to further consolidate our chosen markets. The transaction meets our strict financial criteria and moves forward the implementation of our continuing strategy."
newsdesk@afxnews.com
ak/
COPYRIGHT
Copyright AFX News Limited 2005. All rights reserved.
The copying, republication or redistribution of AFX News content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
AFX News and the AFX Financial News logo are registered trademarks of AFX News Limited
For more information and to contact AFX: www.afxnews.com and www.afxpress.com
© 2005 AFX News
