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Advent is buying the asset in partnership with former TransUnion head Jim Peck. Following the sale of Global Connect, Nielsen retains its Global Media business.
The Global Connect division specializes in market research. Last year Nielsen Holdings, under pressure from investors, announced plans to make the division a separate company and put it on the market. But the deal with Advent International will do without this.
The proceeds from the sale of Global Connect will go towards reducing Nielsen's debt burden. The company's debt at the end of June was about $8 billion, maturing in 2020-2023. Since the beginning of the year, Nielsen shares have fallen in price by 33%. The company's market capitalisation is $4.82 billion.
Upon completion of the deal with Advent International, Global Connect will be renamed NielsenIQ with the right to use the Nielsen brand for 20 years. The transaction is expected to be completed in the second quarter of 2021.
source: reuters.com
The Global Connect division specializes in market research. Last year Nielsen Holdings, under pressure from investors, announced plans to make the division a separate company and put it on the market. But the deal with Advent International will do without this.
The proceeds from the sale of Global Connect will go towards reducing Nielsen's debt burden. The company's debt at the end of June was about $8 billion, maturing in 2020-2023. Since the beginning of the year, Nielsen shares have fallen in price by 33%. The company's market capitalisation is $4.82 billion.
Upon completion of the deal with Advent International, Global Connect will be renamed NielsenIQ with the right to use the Nielsen brand for 20 years. The transaction is expected to be completed in the second quarter of 2021.
source: reuters.com
