Informa to buy Cannes Lions owner Ascential for $1.5 billion

Informa Plc has agreed to buy Ascential Plc, the owner of the Money20/20 and Cannes Lions conferences, for approximately £1.2 billion ($1.5 billion) in cash to expand its events business. Informa will pay Ascential investors about 568 pence per share, the company said in a statement on Wednesday. That’s a 53% premium to the company’s closing share price on Monday. The deal, which must still be approved by shareholders, is expected to close in the fourth quarter. Sign up for Ad Age newsletters From influencer marketing to agencies, get the latest news and analysis delivered to your inbox Click here Informa said it plans to help expand the Ascential conference brands and will help push the Money20/20 conference into the Middle East and Africa to take advantage of investor interest in fintech and payments. Informa flagged earlier this year that rising interest in events in countries including the United Arab Emirates and Saudi Arabia was helping to boost earnings. Informa separately increased its profit outlook for the second time this year, buoyed by “underlying growth, international expansion and AI partnerships,” it said on Wednesday. It now expects adjusted operating profit of up to £1 billion ($1.3 billion) for 2024, up from a previous expectation of as much as £970 million. The Cannes Lions conference, held every year in France for the advertising industry, will become part of a new Informa Festivals business. Informa hosts conferences, exhibitions and training courses around the world. Events in the Middle East include the region’s Film and Comic Con in Abu Dhabi and Jewellery Arabia in Bahrain. Ascential shares closed 23% higher on Tuesday in London trading at 446.80 pence. Informa shares were little changed at 847 pence. —Bloomberg News Subscribe to Ad Age Sign up now for the latest industry news and analysis Click here

Informa to buy Cannes Lions owner Ascential for $1.5 billion

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