Motivate Publishing and private equity investors Abraaj have shelved discussions on a possible partial acquisition of the publishing group.
The talks, which have gone on for several months, were reported unofficially in The National newspaper last month. Ian Fairservice, managing partner of Motivate Publishing, said: “Since our discussions became public we took the view that they should be concluded as soon as possible, one way or another, to avoid uncertainty for any of our stakeholders. We were excited about Abraaj’s approach and their keen interest in investing with us, however we have taken the decision that the timing is not right.”
Matteo Stefanel, executive director of Abraaj, commented: “Motivate Publishing is a business which we have admired for many years. Although we have not concluded a deal with them now we would certainly not discount the possibility of doing so in the future.”
Motivate Publishing, which publishes Campaign, celebrates the 30th anniversary of Emirates Woman magazine this month with a 320-page collector’s issue and daily prizes throughout the month totalling more than $55,000. November also marks the 25th anniversary of its book publishing division, which will be celebrated with the launch of a range of coffee table books commemorating the 40th anniversary of the UAE.
Filed Under: 2.News