Shareholders at a general meeting today have approved the sale of Emap’s B2B portfolio.
The deal was approved in a vote by Emap shareholders and will see Emap’s B2B titles come under ownership of a joint venture by private equity buyers Apax and Guardian Media Group.
The £1 billion deal was agreed by more than 99 per cent of the voters and is now set to complete by 20 March.
Emap’s B2B portfolio includes trade titles such as Construction News, Broadcast and Retail Week.
As well as construction and retail, the B2B arm is also focused on public sector and healthcare – with titles such as Nursing Times and Health Service Journal – as well as media and motoring.
Its conferences and exhibitions business includes the Interbuild trade show in Birmingham and the Cannes Lions advertising festival held in France every June.
The move follows the sale of Emap’s consumer and radio divisions to German company H. Bauer for £1.14 billion in January.
Emap’s B2B operation, which employs around 1,500 staff, has been a stronger performer in recent times than the consumer magazines division, which has struggled in a difficult advertising climate.