Ascential plans £1.5bn demerger
Global data and analytics company and the parent company of the Cannes Lions, Ascential Media company has responded to media speculations of a possible demerger of its digital operations.
Earlier in the week, news reports had made rounds that Ascential was working with investment bankers on a breakup that would see part of the company shift its stock market listing across the Atlantic to New York in an attempt to accelerate the creation of value for shareholders.
In response to the claims, the media company said in a release: “We have noted recent media speculations regarding possible changes to the Group’s structure. As demonstrated on a number of occasions, Ascential’s Board regularly evaluates the optimal organizational and capital structure for the business to continue both the successful delivery of the Group’s strategy for the benefit of our customers and to maximize shareholder value.
However, the company has confirmed that it is in the early stages of evaluating the merits of a managed
separation of “certain assets” of the Group.
“As discussions are exploratory at this stage, they may or may not lead to the Board making a decision to undertake a managed separation of these businesses in due course. The Board is committed to open and transparent engagement with all of its stakeholders and will communicate further if and as appropriate,” the statement read.
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