(Adds details about deal in paragraph 3) Oct 30 (Reuters) - Information and analytics firm Ascential said on Monday it would sell its digital commerce business to Omnicom Group and product design business to Wind UK Bidco 3 Ltd for a combined enterprise value of 1.4 billion pounds ($1.70 billion). The UK-based company said it intended to distribute about 850 million pounds to shareholders following the completion of the transactions, adding that the board expected the shareholder returns by way of a special dividend. The digital commerce business would be sold to U.S.-listed Omnicom for a total enterprise value of $900 million, while the product design business - WGSN - would be sold to the company established by funds advised by Apax Partners for a total enterprise value of up to 700 million pounds. ($1 = 0.8245 pounds) (Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Rashmi Aich)
UPDATE 1-UK's Ascential to sell digital commerce, product design units in $1.7 bln deal
You are reading a free article with opinions that may differ from the recommendation given by Kalkine in its paid research reports. Become a Kalkine member today to get access to our research reports, in-depth technical and fundamental research. Learn more
Start Your Free Trial Now!Download Free Report – Explore 3 Stock Ideas & Industry Insights
Unlock 3 stock ideas and key industry insights in our free report. This information is general in nature and does not consider your personal objectives, financial situation, or needs. It is not financial advice.
All investments involve risk—consider independent advice before making any investment decisions.
View 3 Research ReportsThis information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on ‘as is’ basis, using their API. The information and data provided on this page, as well as via the API, are not guaranteed to be real-time or accurate. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general informational purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine does not assume any responsibility for any trading losses you might incur as a result of using this information, data, or any analyst rating or recommendation provided. Kalkine will not accept any liability for any loss or damage resulting from reliance on the information, including but not limited to data, quotes, charts, analyst ratings, recommendations, and buy/sell signals sourced via the API.
Please be fully informed about the risks and costs associated with trading in the financial markets, as it is one of the riskiest forms of investment. Kalkine does not provide any warranties regarding the information on this page, including, without limitation, warranties of merchantability or fitness for a particular purpose or use.
Please wait processing your request...