Kantar plans to sell media business to H.I.G. for $1 billion

Kantar Media measures TV ratings data in several countries including the US, Singapore and South Africa

Kantar Group is working on a deal to sell its television audience ratings unit to H.I.G Capital for about $1 billion.

The company referred to the proposed sale of the Kantar Media business in a statement, confirming an earlier Bloomberg News report on the deal that cited people with knowledge of the matter.

According to the statement, the transaction will be primarily in cash, along with certain non-cash consideration. The proposed deal, subject to legal and regulatory requirements, is expected to close later this year, Kantar said.

Kantar Media measures TV ratings data in several countries including the US, Singapore and South Africa. Bain Capital, the private equity owner of Kantar Group, had been seeking more than $1.2 billion, Bloomberg reported earlier this week.

JPMorgan and Jefferies were financial advisors to Kantar Group, while Morgan Stanley acted as lead financial advisor and ING was financial advisor to H.I.G. Capital.