Daily Mail and General Trust plc (DMGT)
Agreement to dispose of Genscape
26-Aug-2019 / 11:16 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
26 August 2019
Daily Mail and General Trust plc (DMGT)
Agreement to dispose of Genscape
DMGT announces that it has agreed the sale of Genscape, its Energy
Information business, to Verisk (Nasdaq: VRSK), a leading data analytics
provider, for US $364m. Genscape will become part of Wood Mackenzie, a
Verisk business, and will enhance Wood Mackenzie's existing and
complementary sector intelligence business in short-term energy data and
analytics. The sale is expected to complete in the coming weeks, subject to
the completion of customary closing conditions.
Paul Zwillenberg, CEO, commented: "This transaction marks another major
milestone in DMGT's continued transformation and is in line with our
strategy. It will further increase the focus of the portfolio and will
result in DMGT operating in five sectors, compared to ten in 2016.
Significant progress has been made improving operational execution at
Genscape, consistent with our strategic priorities and, on completion, DMGT
is expected to have more than GBP200m net cash on its balance sheet, enhancing
the Group's financial flexibility."
Genscape, a pioneer in real-time data delivery, provides market intelligence
across the global commodity and energy spectrum. It operates the world's
largest private network of in-field monitors for collecting fundamental
energy data and aims to improve market transparency and efficiency.
Centerview Partners are acting as advisers to DMGT during the disposal
process .
Enquiries
Investors:
Tim Collier, Group CFO +44 20 3615 2902
Adam Webster, Head of Investor Relations +44 20 3615 2903
Media:
Doug Campbell, Teneo +44 7790 882312
Paul Durman, Teneo +44 7793 522824
Market Abuse Regulation
The information communicated in this announcement includes inside
information.
About DMGT
DMGT manages a portfolio of companies that provide businesses and consumers
with compelling information, analysis, insight, events, news and
entertainment. The Group takes a long-term approach to investment and has
market-leading positions in consumer media, insurance risk, property
information, education technology, energy information and events &
exhibitions. In total, DMGT generates revenues of around GBP1.4bn.
Person responsible for arranging the release of this announcement:
Fran Sallas, Company Secretary +44 20 3615 2904
ISIN: GB00BJQZC279
Category Code: DIS
TIDM: DMGT
LEI Code: 4OFD47D73QFJ1T1MOF29
Sequence No.: 17984
EQS News ID: 863063
End of Announcement EQS News Service
(END) Dow Jones Newswires
August 26, 2019 06:16 ET (10:16 GMT)
© 2019 Dow Jones News
