London private equity firm Montagu has struck a deal with publishing giant Informa to buy up shipping newsletter Lloyd’s List, one of the world’s oldest continuously running news journals.
Montagu Private Equity, which manages €10bn (£8.4bn) worth of assets, has agreed to buy the centuries-old maritime news service from Informa, in a deal worth £385m.
Started by Lloyd’s Coffee House owner Edward Lloyd in the early 18th century, Lloyd’s List ran as a daily print newspaper for almost three centuries before becoming an online only service in 2013.
The sell off comes as Informa has sought to refocus its portfolio towards the academic and business-to-business (B2B) markets, via a series of divestments over the previous year.
The disposals have seen Informa, which was first established in 1998 through the merger of Lloyd’s of London’s publishing business and trade magazine company IBC Group, raise £2.5bn since 2021.
The streamlining last month saw Informa sell Boston headquartered data provider Emerging Portfolio Funds research (EPFR) to Montagu for £162m.