Rich friends

30 July 2008 By Una Galani Follow @ugalani

Teaming up with Dubai World Trade Centre could help it clinch the biggest buyout since the crunch. Blackstone might have found a rich buyer for assets it doesn’t want potentially stealing a march on rivals struggling to raise finance.

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Blackstone has reportedly teamed up with the Dubai World Trade Centre to buy Informa, the £3bn UKbased events and publishing group which has been in talks with a rival private equity consortium. Informa confirmed on July 30 that it was in talks with a second unnamed party.

Separately, private equity firm Hellman & Friedman is reported to have walked away from the rival consortium, which includes Providence Equity Partners and Carlyle Group, after struggling to secure financing. Last month, the consortium made a preliminary approach of 506p to buy Informa.

Dubai World Trade Centre is one of the region's leading events organiser and is owned by the Investment Corporation of Dubai, the emirate's official sovereign wealth fund.

Informa shares traded up 1.4% at 438p on July 30.

Context News

Dubai World Trade Centre is one of the region's leading events organiser and is owned by the Investment Corporation of Dubai, the emirate's official sovereign wealth fund.

Informa shares traded up 1.4% at 438p on July 30.

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