Navigation publication that has been running for almost 300 years is put up for sale

Lloyd’s List, a navigation publication launched nearly three centuries ago, was put up for sale by Informa as part of a major reorganization within the FTSE 100 media and events group.

Informa exposed plans on Tuesday (7) to separate from its Intelligence division, a portfolio of data intelligence and consulting and niche publications that include Lloyd’s List. An analyst valued it at around 1.7 billion pounds (R$12.7 billion).

The sale would leave Informa focused on academic publications, through Taylor & Francis, as well as its trade fair company — anticipating that corporate exhibits will return after extensive cancellations during the pandemic.

Stephen Carter, the chief executive, told analysts that there will likely be different buyers for each of the three main parts of the data intelligence division: financial, pharmaceutical and maritime.

Lloyd’s List has been a part of Informa since the company’s inception in 1998, when IBC, a specialist publishing and conference group, merged with LLP, which was behind what was then an insurance daily newspaper.

The title dates back to the 18th century, when it began as a notice nailed to the wall of Edward Lloyd’s coffee house in London’s Lombard Street. It adopted the name Lloyd’s List in 1734 and gained a reputation in insurance and shipping as a valuable source of information, known simply as The List.

The world’s oldest business newspaper decided to eliminate its print edition eight years ago, to focus on its website and apps for smartphones and tablets.

Today it is just one of Intelligence’s 100 brands, which includes financial funds flow data provider EPFR and research and development information provider for the pharmaceutical industry Citeline.

The decision to sell the division means Informa is doubling its stakes on the recovery of corporate conferences after the collapse in physical meetings, explained Thomas Singlehurst, an analyst at Citigroup.

But he said the plans will be well accepted by investors, adding that the types of assets Informa intends to sell could “generate very rich multiples”. He estimated that the company has a “sum of the parts” valuation of 1.7 billion pounds.

Informa’s shares rose 3.8% on Tuesday (7), after executives said they would use the proceeds from the sale to return 1 billion pounds (BRL 7.6 billion) to shareholders through share buybacks and dividends specials.

Carter said the company has already received significant interest in the assets, with the sale “unlocking value and providing funds to bolster our position in our two growth markets.”