Wolters Kluwer Legal & Regulatory Announces the Receipt of a Binding Offer to Purchase its Trade Media Assets in France
January 14 2016 - 5:15AM
January 14, 2016 - Wolters Kluwer Legal & Regulatory today
announces that it has received a binding offer from ATC, a private
B2B media company in France, to purchase Legal & Regulatory's
French trade media assets. Wolters Kluwer's intended divestment is
in line with the division's strategy to focus on legal information
and software solutions for law firms, corporate counsel, and other
compliance professionals.
"We are pleased that we have received a binding
offer from ATC. The company is well-positioned in France to support
these products and activities and serve the needs of customers,"
said Stacey Caywood, CEO, Wolters Kluwer Legal &
Regulatory.
The French trade media unit, a part of the
division's business in France, includes publishing and events
serving the transport, tourism, HR, and social work verticals. The
unit had revenues of €22 million in 2015 and approximately 170
full-time employees.
Upon receipt of the offer, Wolters Kluwer in
France has granted to ATC an exclusive period of discussions,
during which local staff representatives will be consulted
following the French legal process.
About Wolters
Kluwer
Wolters Kluwer reported 2014 annual revenues of €3.7 billion. The
group serves customers in over 170 countries, and employs over
19,000 people worldwide. The company is headquartered in Alphen aan
den Rijn, the Netherlands. Wolters Kluwer shares are listed on
Euronext Amsterdam (WKL) and are included in the AEX and Euronext
100 indices. Wolters Kluwer has a sponsored Level 1 American
Depositary Receipt program. The ADRs are traded on the
over-the-counter market in the U.S. (WTKWY).
Wolters Kluwer Legal & Regulatory is a
division of Wolters Kluwer, serving customers around the world with
expert information solutions, software, and services in the areas
of law, business, and regulatory compliance. Customers of Wolters
Kluwer Legal & Regulatory include law firms, corporate
law departments, business compliance professionals, corporate legal
counsel, legal educators, universities, libraries, and government
agencies.
Media Contacts: |
|
Leslie
Bonacum |
Annemarije Pikaar |
Legal
& Regulatory Communications |
Corporate Communications |
+1
847-267-7153 |
+31 172 64 1470 |
leslie.bonacum@wolterskluwer.com |
annemarije.pikaar@wolterskluwer.com |
Investors/Analysts:
Meg Geldens
Investor Relations
+ 31 (0)172 641 407
ir@wolterskluwer.com |
|
Forward-looking
Statements
This report contains forward-looking statements.
These statements may be identified by words such as "expect",
"should", "could", "shall" and similar expressions. Wolters Kluwer
cautions that such forward-looking statements are qualified by
certain risks and uncertainties that could cause actual results and
events to differ materially from what is contemplated by the
forward-looking statements. Factors which could cause actual
results to differ from these forward-looking statements may
include, without limitation, general economic conditions;
conditions in the markets in which Wolters Kluwer is engaged;
behavior of customers, suppliers, and competitors; technological
developments; the implementation and execution of new ICT systems
or outsourcing; and legal, tax, and regulatory rules affecting
Wolters Kluwer's businesses, as well as risks related to mergers,
acquisitions, and divestments. In addition, financial risks such as
currency movements, interest rate fluctuations, liquidity, and
credit risks could influence future results. The foregoing list of
factors should not be construed as exhaustive. Wolters Kluwer
disclaims any intention or obligation to publicly update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise.
PDF version of Press
Release
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Wolters Kluwer NV via Globenewswire
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