Informa sells Lloyd's List as part of portfolio refocusing
Informa sold its maritime intelligence division, including Lloyd's List, to Frankfurt-based private equity firm Montagu in a £385 million (~$464 million) deal.
Why it matters: This is the latest move by the U.K. business publisher and events company to shed non-core assets and to focus on investing in higher-growth businesses.
- Informa signed an agreement last month to acquire Industry Dive, a Washington, D.C.-based business media company, Sara Fischer reported.
Details: Informa announced the Lloyd's List deal as part of its half-year results on Thursday. The company reported £1 billion (~$1.21 billion) in revenue, up 59.1.%, and operating profit of £234.5 million (~$282.5 million), up 226.6%.
- Informa CEO Stephen Carter said refocusing the company's portfolio, including the Lloyd's List sale, has generated "$3 billion (~£2.4 billion) in value," per Evening Standard.
- Informa "has been selling its data and business intelligence operations to concentrate on events and high-end academic publishing," per The Times.
Of note: Lloyd's List listed the insurance details of the doomed Titanic.