Experian Finance Plc (93RV) - Sale of PriceGrabber etc
RNS Number : 6503P
Experian Finance Plc
26 October 2012
FOR IMMEDIATE RELEASE
Experian Finance plc (the "issuer")
NG2 Business Park
Nottingham NG80 1ZZ
26 October 2012
Re: Sale of PriceGrabber and North America online lead generation activities
26 October 2012 - Experian, the global information services company, announces
that it has completed the sale of its price comparison shopping business
(PriceGrabber) and its North America online lead generation activities
(LowerMyBills and ClassesUSA) to the management team of those businesses.
The gross consideration is US$80m, consisting of US$2m cash at closing and a
US$78m loan note. In addition further consideration is available to Experian
if defined profit targets are achieved over time and in certain other
circumstances, up to a fully inclusive total of US$110m. In respect of the
transaction, Experian expects to realise cash tax relief of approximately
US$120m over the next two years.
Don Robert, Chief Executive of Experian said:
"Over the past four years, we have focused our strategy on extending our
global lead in credit information and analytics, digital marketing services
and consumer services. As part of that process, we designated PriceGrabber and
the lead generation activities as non-core operations, believing that they
would be best developed by an independent owner. We thank all our friends and
colleagues at these businesses for their support over the years and wish them
every future success."
For the year ended 31 March 2012, revenues for the businesses sold were
US$283m and EBIT was US$20m.
Nadia Ridout-Jamieson Director of Investor Relations
+44 (0)20 3042 4215
James Russell Communications Director, UK&I and EMEA
+44 (0)20 7251 3801
Experian is the leading global information services company, providing data
and analytical tools to clients around the world. The Group helps businesses
to manage credit risk, prevent fraud, target marketing offers and automate
decision making. Experian also helps individuals to check their credit report
and credit score, and protect against identity theft.
Experian plc is listed on the London Stock Exchange (EXPN) and is a
constituent of the FTSE 100 index. Total revenue for the year ended 31 March
2012 was US$4.5 billion. Experian employs approximately 17,000 people in 44
countries and has its corporate headquarters in Dublin, Ireland, with
operational headquarters in Nottingham, UK; California, US; and São Paulo,
For more information, visit http://www.experianplc.com.
This announcement has been issued through the Companies Announcement Service
the Irish Stock Exchange.
This information is provided by RNS
The company news service from the London Stock Exchange
ISELLFEIISLRFIF -0- Oct/26/2012 10:56 GMT
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