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 Shares in the world's largest exhibitions group rose more than 4% to
their highest level since Nov. 2020 as it plans to return a portion
of the proceeds to shareholders through a share buyback.
Pharma Intelligence, which provides data on clinical trials, drug
treatments and medical devices, accounted for about 40% of Informa's
Intelligence division in 2020.
Informa said it would retain about 15% of the business after the
deal closes, which is expected by early June.
"We intend to invest and significantly grow the business and its
product offerings," Adarsh Sarma, co-head of Europe at Warburg
Pincus said in a statement.
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 Informa, which had previously announced plans to
return a part of the divestment proceeds to
shareholders, also said the maximum amount
allocated to the initial tranche of the buyback
programme will be 100 million pounds.
The group confirmed it expected 2021 earnings in
line with forecasts, set at over 1.8 billion
pounds for revenues and more than 375 million
pounds for adjusted operating profit.
($1 = 0.7378 pounds)
(Reporting by Juliette Portala; Editing by
Subhranshu Sahu and Shailesh Kuber)
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