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Euromoney sells GMID to consortium
Posted on Monday, 12 February 2018 10:03
Euromoney Institutional Investor, one of Europe's largest business and financial magazine publishers and events organiser, is selling its global markets intelligence division (GMID) to a consortium for USD 180.50 million.
Headquartered in Hong Kong, the overall business unit is billed as a leader in macro-economic, company and industry intelligence on emerging markets.
It has a strong customer presence in China, India, Brazil and Central and Eastern Europe, as well as in developed markets.
GMID is housed within Euromoney’s price, data and market intelligence segment alongside price reporting and analytics, and specialist information.
It comprises two platforms, the first of which is CEIC, a global database with access to macro and micro historic data and indicators across 195 economies.
The second unit of GMID is EMIS, a provider of news, research and analytical data, peer comparisons and more for over 125 countries in emerging markets.
The consortium acquiring the overall division, which had gross assets of GBP 45.30 million as at 30th September 2017, comprises Caixin Global and CITIC Capital private equity arm, CITIC Capital Partners Management.
GMID reported an operating profit of GBP 11.90 million in the 12 months ended 30th September 2017.
The divestment is merely one of many made recently; in the last three months of 2017, Euromoney sold Adhesion, World Bulk Wine Exhibition and, since the quarter end, the Institutional Investor Journals business.
In December, it also completed the disposal of its 15.0 per cent equity interest in Dealogic, at a valuation of USD 135.00 million.
Euromoney flagged GMID for a potential sale in September 2017, saying at the time it wanted to explore options after receiving interest from potential buyers.
Though the group did not follow through on a disposal at the time, it noted in its annual financial report for 2017 that the division was now listed as ’held for sale’ under the belief it would fit another owner’s strategy better.
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