United Business Media (UBM) has completed the sale of its market research business, NOP World, to German company GfK Aktiengesellschaft for £383 million in cash, after announcing its disposal in April (see UBM Sells NOP To German Research Firm).
Earlier this year, UBM announced a review of strategic options for NOP World, with a number of companies, including WPP, Aegis and Taylor Nelson Sofres, expressing an interest in acquiring the research division (see
Race For NOP Starts).
UBM intends to return £300 million of the proceeds of the sale to its shareholders, with a circular being sent to shareholders with details of the proposed return of funds and to convene for the necessary EGM.
Commenting on the deal, David Levin, chief executive officer of UBM said: “I am delighted with the achievement of this excellent result, enabling us to make a substantial capital return to shareholders and create a more focused UBM which can continue to develop its global publishing and events interests.”
NOP World is a leading provider of both syndicated and custom primary research and consulting support services. During the year to 31 December 2004, NOP World generated £222.9 million of turnover, compared to £203.9 million in 2003, last year NOP reported net operating profits of £80.2 million.
GfK Aktiengesellschaft’s acquisition of NOP will expand the market research company’s operations in the UK and US and further strengthen its business in important sectors like media, healthcare and automotive, making GfK one of the largest market research companies in the world.
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