Wolters Kluwer divestiture to proceed following Spanish regulatory clearance
November 03 2022 - 11:00AM
Wolters Kluwer divestiture to proceed following Spanish regulatory
clearance
Wolters Kluwer
divestiture to proceed following
Spanish regulatory
clearance
November
3, 2022 –
Wolters Kluwer Legal & Regulatory announces today that the
Spanish Antitrust Authority has given Karnov Group clearance to
acquire the legal information assets of Wolters Kluwer and Thomson
Reuters in Spain.
Therefore, the transaction announced on December 9, 2021,
whereby Wolters Kluwer will divest its legal information units in
France and Spain to Karnov can proceed. The transaction is expected
to close on November 30, 2022.
The assets to be sold by Wolters Kluwer generated revenues of
€85 million in 2021 (10% of Legal & Regulatory division
revenues) and were profitable. Wolters Kluwer will receive a
consideration of €120 million and intends to use the net proceeds
for share repurchases in 2023 in order to mitigate the earnings
dilution caused by the divestment. Wolters Kluwer expects to record
a non-taxable gain on completion.
About Wolters KluwerWolters
Kluwer (Euronext: WKL) is a global leader in professional
information, software solutions, and services for the healthcare;
tax and accounting; governance, risk and compliance; and legal and
regulatory 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 2021 annual revenues of €4.8 billion.
The group serves customers in over 180 countries, maintains
operations in over 40 countries, and employs approximately 20,000
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 (ADR) program.
The ADRs are traded on the over-the-counter market in the U.S.
(WTKWY).
For more information, visit www.wolterskluwer.com, follow us on
Twitter, Facebook, LinkedIn, and YouTube.
Media |
Investors/Analysts |
Gerbert van
Genderen Stort |
Meg Geldens |
Corporate
Communications |
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Relations |
t + 31 172 641
230 |
t + 31 172 641
407 |
press@wolterskluwer.com |
ir@wolterskluwer.com |
Forward-looking Statements and Other Important Legal
InformationThis 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.
This press release contains information which is to be made
publicly available under Regulation (EU) 596/2014.
- 2022.11.03 Wolters Kluwer divestiture to proceed following
Spanish regulatory clearance
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