Wolters Kluwer Legal & Regulatory to Divest Certain U.K. Publishing Assets
(Thomson Reuters ONE) -
Wolters Kluwer Legal & Regulatory to Divest Certain U.K. Publishing Assets
July 28, 2017 - Wolters Kluwer Legal & Regulatory today announces that it has
reached agreement on the divestment of certain U.K. information and publishing
assets to the Peninsula Business Services Group for ?13 million.
The divestment is part of the division's plan to further sharpen its focus on
markets where it sees the best opportunities for long-term growth. Legal &
Regulatory will continue to serve its U.K. customers for legal & regulatory
software and international legal information. Wolters Kluwer will retain a well-
established position in the country, delivering medical information solutions to
U.K. healthcare providers, software to U.K. tax advisors, and risk & reporting
solutions to the U.K.-based financial services industry.
The assets to be sold include information services for HR, health & safety, and
compliance professionals and online and print publications for accountants and
tax consultants. These product lines generated 2016 revenues of ?29 million,
reported as part of the Legal & Regulatory division, and employ approximately
100 FTEs.
Completion of the divestment will follow the conclusion of the relevant employee
information and consultation process. Wolters Kluwer intends to mitigate the
expected dilution to adjusted earnings per share through share buybacks.
The Peninsula Business Services Group is a leading U.K. provider of employment
law, HR, health & safety and tax consultancy services. In December 2015, Wolters
Kluwer sold its U.K. HR consulting and tax fee protection services units to
Peninsula.
About Wolters Kluwer
Wolters Kluwer N.V. (AEX: WKL) is a global leader in information services and
solutions for professionals in the health, tax and accounting, finance, risk and
compliance, and legal sectors. We help our customers make critical decisions
every day by providing expert solutions that combine deep domain knowledge with
specialized technology and services.
Wolters Kluwer reported 2016 annual revenues of ?4.3 billion. The company,
headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over
180 countries, maintains operations in over 40 countries, and employs 19,000
people worldwide.
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).
For more information about our solutions and organization, visit
www.wolterskluwer.com, follow us on Twitter, Facebook, LinkedIn, and YouTube.
Investors/Analysts
Meg Geldens
Investor Relations
+ 31 172 641 407
ir(at)wolterskluwer.com
Media
Annemarije Pikaar Leslie Bonacum
Corporate Communications Legal & Regulatory Communication
+ 31 172 641 470 +1 847-267-7153
annemarije.pikaar(at)wolterskluwer.com leslie.bonacum(at)wolterskluwer.com
Forward-looking Statements and Other Important Legal Information
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:
http://hugin.info/130682/R/2123920/810349.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq 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 N.V. via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 28.07.2017 - 08:26 Uhr
Sprache: Deutsch
News-ID 554350
Anzahl Zeichen: 5433
contact information:
Town:
Alphen aan den Rijn
Kategorie:
Business News
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