16 April 2007
16 April 2007 - International law firm Mayer, Brown, Rowe & Maw LLP's Corporate Group has advised the shareholders of eFinancialNews Holdings Ltd (eFNH) on its sale to Dow Jones for £27.5 million, plus approximately £3 million of working capital. Completion is conditional on German competition clearance and is expected to occur in early May.
This follows Mayer, Brown, Rowe & Maw's advice on the sale of eFinancial Group Limited and the eFinancial careers business to Dice in October last year.
Financial News was founded in March 1996 by a team of senior journalists as the weekly newspaper for the European securities and investment banking industry. It remains a leading player in the financial sector. As a result of the sale, eFNH's Financial News brands and businesses will operate as part of Dow Jones. Tony Gibson will remain Chief Executive and Publisher with William Wright as Editor in Chief. Angus MacDonald, Group Chief Executive of eFNH has agreed to assist the transition in a part-time capacity.
London Corporate partner Andrew Copley led the team and was assisted by James Trentham and competition assistant Clare Brown.
Fried Frank advised Dow Jones.For further information:
+44 (0)20 7782 8755Charlotte Ward
PR Manager, London
+44 20 7782 8547