GlobalData PLC (AIM:DATA)'s shares jumped 18% on news that underlines rock bottom valuations of companies here in the UK.
Private equity group Inflexion is acquiring a 40% stake in GlobalData's healthcare operation for a headline £1.15 billion. To put this into context, the entire company was only worth £1.35 billion ahead of the deal.
From the transaction, GlobalData will garner cash proceeds of £434 million, which will fund its acquisition plans. It will also undergo a corporate reorganisation.
Shares in the company were up 23p at 187.5p.