Ex-Daily Mail CEO tapped to work on bid for Ascential unit

(Sharecast News) - Former Daily Mail & General Trust chief executive officer Paul Zwillenberg has been approached to advise private equity firm BC Partners in a possible bid for Ascential's consumer data unit WGSN, it was reported on Tuesday. The FTSE 250 company Ascential recently called for initial offers for the business, reportedly valued at more than £700m.

According to Sky News, Zwillenberg had joined ex-Stylus Media Group and News Corporation executive Elizabeth Deeming in working on the deal.

Sky said neither was expected to hold a continuing role in WGSN should BC Partners successfully take it on, however, citing individuals familiar with the matter.

Zwillenberg's role in this deal was piquing interest due to his previous leadership at Daily Mail & General Trust, where he orchestrated its delisting from the London Stock Exchange in 2021.

During his six-year tenure, he led the company's expansion into various digital ventures, including the online car-buying platform Cazoo.

Sky News said BC Partners declined to comment on the matter, while attempts to seek comment from Zwillenberg were unsuccessful.

At 1452 BST, shares in Ascential were up 2.62% at 243.2p.

Reporting by Josh White for Sharecast.com.