EMAP has sold it's business magazines division to a consortium comprising APAX and Guardian Media Group. The two companies acquired the business through their joint venture company Eden Bidco.
It has been reported that the companies have decided to merge their new acquisition with APAX's Incivisive Media subsidiary and GMG would own 30% of the new merged entity.
Eden Bidco purchased 41.95m shares for 931p and this was announced on Christmas Eve. The shareholders are going to have a good New Year!
It looks like the rest of the EMAP Group may be broken up soon and sold off to maximise profits with other companies buying up shares and pushing up the prices getting ready to either sell their now highly priced shares or take over the Group.
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