StockMarketWire.com - Ascential said Tuesday that it had entered into a conditional agreement to sell its Exhibitions business to ITE Group for £300m on a cash and debt free basis.

The proceeds would be allocated to higher growth areas of the business that would enable customers to succeed in the digital economy in the disciplines of product design, marketing and sales, the firm said.

'Winning in the digital economy is one of the biggest challenges our customers face and we want to ensure we are at the forefront of helping them achieve this,' said Duncan Painter, Chief Executive Officer of Ascential.

Ascential Exhibitions business included Spring and Autumn Fair, Bett, CWIEME, Pure, Glee and BVE.

In the financial year ended 31 December 2017, the Ascential Exhibitions business generated revenues of £82.9m, the firm said.








At 9:05am: [LON:ASCL] Ascential Plc share price was -0.5p at 419.5p



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