Wed, 26 Sep 2012 | BUSINESS SALE
Some of Experian's non-core businesses remain up for sale after problems with an agreed buyer.
It was announced in May that Ybrant Digital was to purchase PriceGrabber and some of the Experian's other North America online lead generation activities.
However, Experian announced today (26 September) that the expiration of the final deadline for the deal has passed and the firm now considers Ybrant to be in breach of contract following its failure to comply with its obligation to close the transaction.
As a result, the businesses are now thought to be back on the market as Experian continues to explore its options for a sale. The company remains committed to securing a deal and still considers the companies to be held for sale as discounted operations, excluding them from organic revenue growth and benchmark profit for tax and benchmark EPS.
In the five months to August this year, the businesses under consideration saw organic revenue growth of one per cent. Experian itself saw its shares close yesterday at £10.33, with an overall company valuation of £10.43 billion. It remains to be what PriceGrabber and the other non-core assets will be sold off for.
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