Ascential Eyes £1.2 Billion Asset Sale Windfall: The London Rush
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Good morning. The week kicks off with a hefty disposal from London consulting firm Ascential Plc. The company is selling its digital commerce business to US advertising firm Omnicom Group Inc. and its consumer trend-spotting business to buyout firm Apax for a combined cash proceeds of £1.2 billion. Ascential plans to return £850 million of the proceeds to shareholders.
This morning’s announcement comes roughly nine months after Ascential announced plans to break itself up.