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A UK-based publisher is to come out of administration after assets belonging to its Wealth Enhancement division are assumed by Capital Ideas Financial Publishing (CIFP).

The £229,125 acquisition will see the Capital Ideas plc subsidiary buy into Charterhouse Communications Group, releasing joint administrators KPMG.

Charterhouse’s Wealth Enhancement division’s assets comprise journals, periodicals and magazine titles, including Company REFS, Company Guide and The Corporate Register, their intellectual property rights, stock, marketing and media information. Charterhouse’s liabilities will not form part of the acquisition.

Capital Ideas chairman Renwick Haddow describes the former Charterhouse brands as “strong”, and believes the acquisition will provide distribution opportunities for Capital Ideas’ business interests, including its newly-formed and soon to be launched financial products business.

Charterhouse was put into administration earlier this month, stating that its mortgage magazine portfolio, including Mortgage Introducer, had been badly hit by the credit crunch as advertisers refused to commit to spending.

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