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RELX agrees to sell Australian construction data unit-source

Mon 5th October, 2015 7:00am
LONDON, Oct 5 (Reuters) - RELX  REL.L   RELN.AS , Europe's 
largest media group formerly known as Reed Elsevier, has agreed 
to sell its Australian construction data business Cordell as 
part of its drive to reshape its portfolio towards faster 
growing businesses.  
    A person familiar with the deal said RELX had agreed to sell 
Cordell to U.S. firm CoreLogic  CLGX.N . The business provides 
information on project activity and building cost information to 
the building, property and insurance sectors.  
    The sale, for an undisclosed sum, marks the complete exit of 
RELX's Reed Business Information (RBI) unit from the 
construction data industry, which can prove cyclical.  
    It has previously sold its American construction data 
business, with the combined revenues of the two U.S. and 
Australian construction businesses amounting to around $100 
    RELX, which cancelled a plan to sell RBI in 2008 due to 
stock market volatility, has now sold around 50 businesses from 
the unit as part of its transformation. RELX declined to comment 
on the sale. 
 (Reporting by Kate Holton; Editing by Toby Chopra) 
 ((; 0044 207 542 8560; Reuters 
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