Meredith Corp. agreed to sell Time Inc. UK to Epiris Fund II LP.
The transaction, financial terms of which were not disclosed, is expected to close by the end of the first quarter, Meredith said Feb. 26. Meredith bought Time Inc. UK on Jan. 31, as part of its acquisition of Time Inc.
Time Inc. UK is a British media company, with a portfolio of more than 50 brands, including Country Life and Woman's Weekly. Epiris Fund II is advised by Epiris LLP, a U.K. private equity firm.
Meredith is being advised by Barou Advisers and Herbert Smith Freehills LLP.