The deal was the last major piece of business carried out by outgoing boss Clive Hollick, former owner of Express Newspapers.
The NOP World division has been a profitable part of the UBM empire in recent years with pre-tax profits hitting £7.9m in 2004, up from £4.9m in 2003.
David Levin, the new chief executive of UBM, said: “David Levin, Chief Executive Officer of UBM, said: “I am delighted with the achievement of this excellent result, both for UBM shareholders, enabling us to make a substantial capital return, and for NOP employees, who will have significant opportunities as part of a larger market research group.
“This transaction creates a more focused UBM which can continue to develop its global publishing interests.”
By Kevin May