Press Association makes £125m profit on sale of MeteoGroup weather forecaster

Press Association is said to have made £125m from the sale of its weather forecasting business MeteoGroup. 

It is the world's largest private sector weather forecasting business and has been sold to Private Equity group General Atlantic.

PA Group chief executive Clive Marshall told The Times: "The sale of MeteoGroup will provide the capital to enable us to continue to invest in and diversify the Press Association business, as well as address our pension fund deficit.”

Last week PA revealed that it was cutting 35 jobs. 

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