Deals
UBM Agrees to Sell PR Newswire for $841 Million to Cision
- Sale gives UBM funds for acquisitions to grow events business
- Shareholders to get 245 million pounds in special dividend
This article is for subscribers only.
UBM Plc, the U.K. event and marketing services provider, agreed to sell its news-release distribution service PR Newswire for $841 million to GTCR’s Cision to focus on its events business.
UBM will get $810 million in cash and $31 million in preferred equity, its said Tuesday in a statement. The London-based company plans to return 245 million pounds ($372 million) to shareholders as a special dividend.