Informa completes the disposal of its five Corporate Training businesses.

informa2Informa plc has completed  the disposal of its five Corporate Training businesses to Providence Equity Partners.

The initial consideration of $165m, consists of $100m in cash (net of indebtedness and working capital adjustments on completion) and a $65m vendor loan. The vendor loan is for a maximum term of 6.5 years and attracts a PIK interest rate of 1% in the first two years, rising to 10% in the third year with a further 1% per annum increase thereafter.

providenceequityMore more information see Fusion DigiNet’s July 2013 article here.

UK, London

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