Euromoney sells II Journals to Pageant Media

Business information and events group Euromoney has sold its Institutional Investor Journals (II Journals) business segment to Pageant Media for an undisclosed sum.

II Journals publish analysis of global investment and finance, with an online archive of 10,000 articles. The business has 12 titles available online and in print, covering various disciplines in portfolio management and finance.

Chairman and chief executive officer Diane Alfano said: "II Journals is a high-quality business but not our strategic focus. We are delighted to have found in Pageant Media a new owner which is looking to invest in the sector and to take the business to the next stage of its growth. We wish the II Journals team and Pageant well."

Pageant Media CEO Charlie Kerr said: "The II Journals are recognised across the asset management sector for their excellence in providing senior professional investors and leading academics with informed and thought-provoking technical analysis.

"We look forward to investing further in these titles and are excited to begin thinking about the ways in which the specialist knowledge exhibited in these journals can bolster the growing information and networking services we provide to our hedge fund, private equity, real estate and mutual fund communities."

At 1305 GMT, the shares were down 0.2% to 1,248p.