London-listed events organiser Informa PLC has agreed to sell its pharma intelligence business to Warburg Pincus for £1.9 billion, according to a statement today.

The deal comes after Informa said it would divest its portfolio of intelligence businesses, of which the pharma segment is the largest at around 40% of total divisional revenue of £305 million. Informa will retain a 15% stake in the pharma business, with the sale realizing roughly £1.7 billion in cash for the group.

In a separate statement, Warburg Pincus said Mubadala Investment will join it in the investment.

Informa said it will now focus on the divestment of its Financial Intelligence business that includes EPFR Global, IGM and Zephyr, but excludes its retail banking joint venture Curinos.

Informa Pharma Intelligence provides specialist intelligence and data in areas such as clinical trials, drug development and regulatory compliance. The buyers said they now plan to extend the company’s position in the pharmaceutical data and analytics market, and invest in the creation of new products for customers. For the year ended December 2020, Informa said the pharma unit reported profit before tax of £55.3 million.