LONDON: Hard on the heels of its announcement of a "strategic review" late last week, ailing UK media conglomerate Emap has revealed a £1.3 billion (2.6bn; £1.9bn) approach by private equity firm Apax Partners for its business-to-business arm.
The unit, which publishes commercial and professional magazines, and organizes events and conferences, is Emap's crown jewel, accounting last year for 32% of revenues and 45% of profits.
The company has been struggling, issuing a number of profits warnings and witnessing the departure of ceo Tom Moloney earlier this year.
Among other groups reported to have expressed an interest in a break-up of Emap assets are United Business Magazines and Informa.
Data sourced from Financial Times online; additional content by WARC staff