Informa Plc agreed to divest its interest from its five corporate training businesses after signing an agreement with Providence Equity Partners. The total consideration for the sale amounted to US $180 million.
The company, one of the premier academic publishing and business information and events groups, said in a statement that it’s looking to focus more on its subscription and events as well as the emerging markets. The five corporate training businesses have a aggregate asset totalling US $358.8 million. As of December last year, they were able to generate sales for information in the amount of US $194 million.
According to the agreement, US $100 million in cash and US $65 million in vendor loan will be included in the initial consideration. An additional US $15 million will be paid to Informa in 2014 provided the corporate training businesses generate revenues this year.