UK's Bonhill to sell U.S. InvestmentNews in $4.1 million deal

Bonhill Group Plc, a UK media company, intends to sell its unit, InvestmentNews, a U.S. financial news and information services provider, for 3.3 million pounds ($4.1 million).

Under the deal, Bonhill has exchanged contracts with KM Business Information US, Inc. regarding the conditional disposal of the business and assets of InvestmentNews.

The acquisition of InvestmentNews is expected to create a stronger and more competitive financial news and information business and with the deal, KM Business will further grow the business to better serve its customers.

Moreso, the proposed disposal, expected to close in the second quarter of 2023, is subject to a number of conditions, including the approval of Bonhill shareholders.