WALTHAM, Mass.-Primark Corp. announced it has agreed to sell to a subsidiary of Reuters Group plc its subsidiary, Yankee Group Research Inc., for $72.5 million in cash. The deal is expected to close within 30 days.
“Given the current conditions in the IPO marketplace, the cash sale of 100 percent of the Yankee Group is more advantageous than our previously announced plans for an initial public offering of approximately 40 percent of its equity,” said Joseph E. Kasputys, Primark’s chairman and chief executive officer.
