Reuters logo
BRIEF-Experian agrees to sell controlling interest in email/ccm business
April 3, 2017 / 8:05 AM / 8 months ago

BRIEF-Experian agrees to sell controlling interest in email/ccm business

April 3 (Reuters) - Experian Plc:

* Experian agrees to sell email/ccm business

* Signs agreement to sell controlling interest in email/cross-channel marketing in a further step to sharpen strategic focus

* Has agreed to divest a 75 pct interest in CCM to Vector Capital, with Experian retaining balance

* Enterprise value of CCM at completion is c. $400 mln on a cash and debt free basis

* Net proceeds on closing to Experian will be 75 pct of enterprise value, and will be after transaction costs and taxes

* Experian will retain a 25 pct equity interest in CCM and a seller note for $75 mln

* On a pro forma basis net debt to EBITDA is expected to be c.1.9-2.0x at March 31, 2017, compared to group’s target range of 2-2.5x

* Transaction is subject to customary closing conditions and is expected to complete during first half of financial year ending March 31, 2018 Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below