Dealogic is a provider of content and software solutions to financial firms. The equity stake has been sold to Ion Investment Group for approximately $135m. The consideration will be received in cash.
Completion of the sale is subject to regulatory approvals and is expected to take approximately six weeks, says Euromoney.
Euromoney has been associated with the Dealogic businesses for over 30 years and acquired its stake in Dealogic in December 2014. Euromoney will continue to receive from Dealogic the league tables and data analytics products used in its Global Capital business.
Euromoney’s results for the year ended 30 September 2017 included £3.9m in adjusted profit before tax from Dealogic. The gross assets of Dealogic at 30 September 2017 were £551.6m.
The sale proceeds will initially be used to pay down debt and over time will provide Euromoney with capital to invest in its main investment themes.
Andrew Rashbass, CEO of Euromoney said: “This transaction is in line with Euromoney’s strategy, one pillar of which is actively managing its portfolio of assets and selling businesses which do not align with its strategy and recycling that capital to invest in our main investment themes like price discovery, post trade activities, asset management and telecoms.”