Daily Mail and General Trust plc (DMGT.L) announced the sale of Genscape, its Energy Information unit, to Verisk (VRSK) for $364 million. Genscape provides market intelligence across the global commodity and energy spectrum.
Paul Zwillenberg, CEO, said: "This transaction will further increase the focus of the portfolio and will result in DMGT operating in five sectors, compared to ten in 2016. On completion, DMGT is expected to have more than 200 million pounds net cash on its balance sheet, enhancing the Group's financial flexibility."
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