RNS Number:9792M
T&F Informa PLC
1 June 2005
1 June 2005
T&F Informa plc
Proposed £768 million acquisition of IIR extends T&F Informa's multi-format
approach to provision of specialist information
Proposed 2 for 5 Rights Issue at 265p to raise £311 million net
T&F Informa plc ("T&F Informa"), the international specialist information
provider, announces the proposed acquisition of IIR Holdings Limited ("IIR") for
cash consideration of US$1.4 billion (£768 million).
- Highly complementary acquisition, adding significantly to T
&F Informa's events business, providing immediate critical mass in the
customised performance improvement market, substantially expanding T&F Informa's
existing North American presence and further extending its geographic reach into
emerging economies
- IIR organises events including conferences, seminars and
exhibitions and through its performance improvement business provides
performance analysis, diagnostics and customised training services to corporates
and governments
- over 1,400 conferences per year worldwide
- US-based performance improvement services to approximately half the
Fortune 500 and a broad cross-section of US Government departments
- Recent strong growth by IIR with revenue in the year to 31
December 2004 of $572.6 million (£312.9 million) up 20.2% (including a 5 month
contribution from the acquisition in 2004 of Robbins-Gioia of $42.5 million
(£23.2 million)) and EBITA of $87.8 million (£48.0 million) up 105.3% (including
a 5 month contribution of $7.0 million (£3.8 million) from Robbins-Gioia).
Further good revenue growth expected in current year and beyond(1)(1)
More to follow, for following part double-click [nRN1A9792M]