Reed Elsevier sells part of RBI

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Reed Elsevier has agreed to sell a small part of the RBI trade-magazines unit – whose sale it scrapped last year – to entrepreneur Clive Jacobs for an undisclosed sum. The travel-publishing division comprises Travel Weekly, Travolution, Gazetteers.com and associated online services and events, and accounts for about 1 per cent of RBI’s revenues, which were £1.244bn last year.