Informa To Acquire Yachting Promotions For GBP 106 Mln - Quick Facts

(RTTNews) - Publishing firm Informa plc (INFMF, INF.L) said it has agreed to acquire Yachting Promotions Inc. or YPI, the operator of some of the largest yachting and boat shows in the U.S., for 106 million pounds. Completion of the acquisition is expected by early March.

The addition of YPI from Active Interest Media, or AIM, the privately-owned specialist U.S. media group, will combine several major U.S.-based international yachting exhibitions with Informa's Monaco Yacht Show in Europe.

The YPI portfolio includes the Fort Lauderdale International Boat Show, the largest in the world.

Under the terms of the combination, Informa will acquire 100 percent control of AIM's Yacht Exhibitions business while retaining a long-term cross-marketing agreement with the parent company, replicating the structure adopted when Informa acquired Hanley Wood Exhibitions in 2014.

Stephen Carter, Informa Group Chief Executive, said, "Following three years of private discussions, we are delighted to bring YPI into the Group. It will deepen our leadership in the growing international yachting and boating sector, with its attractive exhibitions complementing our existing ownership of the Monaco Yacht Show."

On completion, the addition of YPI will make Informa's Global Exhibitions Division the largest contributor to Group revenues and profit, with annual sales of more than 500 million pounds. The Division operates a portfolio of about 200 major Exhibition Brands.

On 6 March, Informa will announce full-year results for the 12-month period ending 31 December 2016.