Informa courted by Dubai sovereign-fund backed venture

LONDON - Informa, the publisher of Lloyd's List, has attracted a second suitor in the form of private equity group Blackstone, which has teamed up with a company backed by a Dubai sovereign wealth fund.

The business-to-business publisher, which owns research firm Datamonitor, has held preliminary talks with the consortium, believed to consist of Blackstone and Dubai World Trade Centre among others, and is giving it access to its financial and management information.

Informa had been approached for takeover by a group comprising Providence Equity, The Carlyle Group and Hellman & Friedman, which earlier this month proposed an offer of 506p a share valuing the company at £2.1bn. The approach led to talks collapsing between Informa and media company UBM about an all-share merger in June.

But, Informa yesterday issued a statement to the stock market confirming that it has received an approach from a second third party, and was giving it access to information required for due diligence.

"Informa clarifies that it has received a preliminary approach from a further third party and as a result is providing access to information materials," said the statement. "No formal proposal has been received.

"Discussions continue with Providence Equity LLP, The Carlyle Group and Hellman & Friedman and there can be no certainty to the terms of any offer nor whether any offer will be made."

However, contrary to the statement, The Financial Times said that Hellman & Friedman has walked away from a potential deal, scuppering the consortium's attempts at a takeover.

In the latest development, the paper said that events organiser the Dubai World Trade Centre wants to buy Informa's IIR conference and events division, while Blackstone and the other consortium members would acquire Informa's academic journal publishing arm Taylor & Francis, and offload other interests such as Datamonitor to other buyers.

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