United News & Media yesterday concluded the sale of its Miller Freeman Europe publishing and exhibitions business to Anglo-Dutch publishing mammoth Reed Elsevier for £360 million in cash.
The deal propels Reed to the head of the world exhibitions league table, bringing Miller Freeman's pan-European shows into the ambit of its subsidiary Reed Exhibition Companies, already a force in the US, UK and Asia with a portfolio of one hundred UK and international business-to-business shows. MFE’s 1999 revenues reached £118m.
The sale follows that of Miller Freeman USA to Dutch publishing group VNU [WAMN, 17-Jul-00].
News source: Financial Times