Rothermere family may take Daily Mail private if insurance risk unit, Cazoo sold

FILE PHOTO: A clock face is seen outside of the London offices of the Daily Mail newspaper in London, Britain, April 28, 2018. REUTERS/Toby Melville/File Photo

(Reuters) – Daily Mail and General Trust Plc (DMGT) said on Monday the Rothermere family, its largest shareholder, might take the British newspaper private in a 810 million pounds ($1.13 billion) deal, if the sales of its insurance risk unit and Cazoo business go through.

The London-listed publication, in which the Rothermere family has a roughly 28% stake, said discussions to sell the insurance risk business, RMS, were ongoing, and if a deal was agreed, it could be completed in the third quarter of this year.

In March, online car seller Cazoo Holdings, in which DMGT has a stake of around 20%, agreed to go public in New York through a merger with a blank-check acquisition company, which is expected to provide DMGT with cash and shares worth more than $1 billion.

($1 = 0.7194 pounds)

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