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Wolters Kluwer in Talks to Education Unit to Bridgepoint
Published:
Friday, 23 Mar 2007 | 7:10 AM ET
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By: AP
Dutch publishing company Wolters Kluwer said Friday it is in talks with private equity fund Bridgepoint Capital to sell its education unit for 750 million euros-775 million euros ($999 million-$1.02 billion).
Wolters Kluwer had announced earlier this month it was looking to sell the division, which it said had sales of 316 million euros in 2006 and around 1,500 employees.
It sells education materials for primary, secondary and vocational education in Britain, Germany, and five other European countries including the Netherlands.
The deal is subject to regulatory approval, Wolters said.
Wolters shares rose 1.5% to 22.92 euros ($30.53) in Amsterdam.
Copyright 2007 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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