February 12, 2018 / 7:28 AM / in 8 months

Euromoney sells markets intelligence unit for $180.5 mln​

LONDON, Feb 12 (Reuters) - Euromoney, a business to business information company, said it agreed to sell its Global Markets Intelligence Division(GMID) to a consortium led by CITIC Capital Partners for $180.5 million, selling off a non-core unit.

Euromoney said proceeds of about $145 million would leave the company in a net cash position and provide it with funds to help grow its activities in pricing, asset management and telecoms.

Private equity firm CITIC Capital acquired the GMID business in partnership with Caixin Global. Hong Kong-headquartered GMID provides financial intelligence on emerging markets including China, India and Brazil.

Euromoney is 49.1 percent-owned by Daily Mail & General Trust Plc.​ (Reporting by Sarah Young, Editing by Paul Sandle)

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