Wolters Kluwer Legal & Regulatory to Acquire LexisNexis Legal Business in Poland and Divest Canadian Legal Assets
July 22 2014 - 1:51AM
Wolters Kluwer Legal & Regulatory today announced it has
signed an agreement to acquire the LexisNexis legal business in
Poland from Reed Elsevier. The acquisition will extend Wolters
Kluwer's portfolio of high-quality digital information offerings
for the Polish law firm, government, and corporate segments.
Simultaneously, Wolters Kluwer also announced that it has signed
an agreement to divest its Canadian legal publishing activities to
Reed Elsevier. The Canadian legal assets to be sold include print
and online information products for law firms, corporate counsel,
and human resources professionals, of which a portion are French
Canadian legal products consolidated within our Tax &
Accounting results.
Wolters Kluwer expects the acquisition to generate a return
above our cost of capital within three to five years.
"We are pleased to have reached this agreement with LexisNexis.
The transaction supports the Legal & Regulatory Division's
strategy to concentrate investment on our core markets where
opportunities for long-term growth are the greatest," said Legal
& Regulatory Division CEO Stacey Caywood.
The LexisNexis legal business in Poland has approximately 120
employees, and the Wolters Kluwer legal business in Canada has
approximately 50 employees.
About Wolters Kluwer Legal & Regulatory
Wolters Kluwer Legal & Regulatory is a division of Wolters
Kluwer, serving customers around the world with expert content,
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. Wolters Kluwer
had 2013 annual revenues of €3.6 billion ($4.7 billion), employs
approximately 19,000 people worldwide, and maintains operations in
over 40 countries across Europe, North America, Asia Pacific, and
Latin America. Wolters Kluwer is headquartered in Alphen aan den
Rijn, the Netherlands. Its shares are quoted 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).
About Reed Elsevier
Reed Elsevier Group plc is a world leading provider of
professional information solutions. The group employs approximately
28,000 people of whom half are in North America. Reed Elsevier
Group PLC is owned equally by two parent companies, Reed Elsevier
PLC and Reed Elsevier NV; the combined market capitalization of the
two parent companies is approximately £19bn/€23bn. Its shares are
traded on the London, Amsterdam and New York Stock Exchanges using
the following ticker symbols: London: REL; Amsterdam: REN; New
York: RUK and ENL.
Media Leslie
Bonacum t + 1 847 267 7153 leslie.bonacum@wolterskluwer.com |
|
Investors/Analysts
Meg Geldens t + 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
http://hugin.info/130682/R/1833013/636380.pdf
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