Wolters Kluwer to sell education division to US equity group

03/23/07 - newratings.com

LONDON, March 23 (newratings.com) – Dutch publisher Wolters Kluwer NV (WOSB) has reached an agreement to sell its education division to international private equity group Bridgepoint Capital for over €750 million, according to the Financial Times.

Quoting sources close to the matter, the Financial Times said that several other companies, such as Vestar, an American private equity group, Pearson and Finnish media group Sanoma, had also shown interest in acquiring the education division of Wolters Kluwer. The companies were dissuaded, however, by the spread of the division’s assets across various European nations. The Dutch company is expected to seek the works council approval for the sale in the near future.