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December 22, 2008

Informa could sell parts to reduce debt

By Rachael

Business publisher Informa is looking to reduce its debt to less than £1bn and could sell off parts of its business reports The Independent.

The company’s net debt for its half-year results in July was £1.22 bn.

A source said: “Institutions and the market have – incorrectly, in the company’s view – marked Informa down as overgeared at three times Ebitda [a calculation of profit], and so the board has accepted that it will have to get below £1bn of debt. Divestments are one of the ways of solving that problem.”

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