BREAKING NEWS

BREAKING NEWS

Daily Mail owner to return Euromoney stake to shareholders

Daily Mail owner to return Euromoney stake to shareholders
FILE PHOTO: A clock face is seen outside of the London offices of the Daily Mail newspaper in London, Britain, April 28, 2018. REUTERS/Toby Melville -
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TOBY MELVILLE(Reuters)
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LONDON (Reuters) - The owner of Britain's Daily Mail newspaper plans to return all of its shares in Euromoney Institutional Investor and 200 million pounds ($264 million) cash to eligible shareholders, it said on Sunday.

Daily Mail and General Trust holds more than 49 percent of Euromoney, which provides business-to-business information, and is its largest shareholder and founding investor.

"In total, the distributions will result in almost 900 million pounds of assets being returned to shareholders, who will benefit from direct ownership of Euromoney while retaining exposure to a simplified DMGT Group," DMGT Chief Xecutive Paul Zwillenberg said in a statement.

DMGT said that eligible shareholders would be holders of A Shares other than Rothermere Affiliated Shareholders and the DMGT Employee Benefit Trust.

(Reporting by Kylie MacLellan; Editing by David Goodman)

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