Outcome of review of strategic alternatives for the division announced in September 2006
Amsterdam (March 16, 2007) - Wolters Kluwer, a leading global information services company and publisher, today announced that the company, after careful consideration, has decided that it will further pursue a divestment as the preferred option for the Education division of Wolters Kluwer. This decision follows the announcement on September 27, 2006, that Wolters Kluwer would begin exploring strategic options for its Education business.
As previously announced, given the strong position of the Education business and its solid plans for future growth, as well as the strategic direction of Wolters Kluwer, the management of Wolters Kluwer concluded that it was an opportune time to explore alternatives for its Education business. Wolters Kluwer has now reached the conclusion that pursuing a divestment of the Education division is the preferred option since it will provide the business with the best opportunities for future expansion and enhance shareholder value.
Wolters Kluwer Education holds leading positions in primary, secondary, and vocational education in seven European countries - the Netherlands, Sweden, the United Kingdom, Germany, Belgium, Austria, and Hungary - and has approximately 1,450 employees. With its highly respected brands, the business is well-positioned in its markets.
About Wolters Kluwer
Wolters Kluwer is a leading global information services and publishing company. The company provides products and services for professionals in the health, tax, accounting, corporate, financial services, legal and regulatory, and education sectors. Wolters Kluwer has 2006 annual revenues of €3.7 billion, employs approximately 19,900 people worldwide and maintains operations across Europe, North America, and Asia Pacific. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its shares are quoted on the Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. For more information, visit www.wolterskluwer.com.
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Contact: |
Caroline Wouters
Vice President, Corporate Communications
Wolters Kluwer nv
+ 31 (0)20 6070 459 |
Oya Yavuz
Vice President, Investor Relations Wolters Kluwer nv
+ 31 (0)20 6070 407 |
Forward-Looking Statements
This press release 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.
