The publisher of Britain's Daily Mail said on Thursday it had agreed to sell its insurance risk business RMS to Moody's Corporation for about 1.425 billion pounds ($1.98 billion) in cash.
had built up RMS in recent years by investing in its software and data analytics, creating substantial shareholder value.
"We have decided that now is the right time to monetise our investment in RMS at a premium valuation," he said. DMGT said the price achieved was in line with its expectations last month when it said the group's founding family and leading investor, the Rothermeres, said they were ready to buy the group outright.
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