The media group has agreed to buy United Business Medias 20 per cent stake in SIS, the betting shop pictures and information provider.
The deal, which will be financed by a placing of shares and a deep discounted bond secured by investment company Eureka, comes three months after Thales sold its 22 per cent stake to Caledonia Investments for 18m.
The rest of the SIS shareholding is held by Ladbrokes (23%), William Hill (20%), the Racecourse Association (10%) and the Tote (5%).
SIS, which has a policy to declare a dividend every four years, paid out 29.9m in 2003.
The betting shop pictures provider reported a turnover of 110.4m and a profit after tax of 10.3m in the year ended March 31, 2004.
Calculators
