LONDON (dpa-AFX) - Informa (INF.L) has agreed to divest Pharma Intelligence to Warburg Pincus for 1.9 billion pounds. Following separation of Pharma intelligence, Informa will proceed with the next process in its GAP II divestment plans, focusing on its Financial Intelligence business, excluding the retail banking joint venture, Curinos.
Also, the Group intends to commence a share buyback programme. It has entered into a non-discretionary arrangement with its broker to purchase on its behalf and within certain pre-set parameters, ordinary shares of 0.1 pence each in the company, with the intention to cancel those shares purchased. The maximum amount allocated to the initial tranche of the buyback programme will be 100 million pounds.
Informa confirmed that it expects to report trading in 2021 in line with guidance. Free cash flow is expected to be ahead of previous guidance.
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