Ad hoc-Mitteilungen

Wolters Kluwer Legal & Regulatory received a binding offer to sell its French and Spanish legal information businesses

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 Wolters Kluwer Legal & Regulatory received a binding offer to sell its French and Spanish legal information businesses

December 9, 2021 – Wolters Kluwer Legal & Regulatory announces today that it has entered into exclusive discussions to sell its legal information businesses in France and Spain following receipt of a binding offer from Karnov Group. Thomson Reuters has simultaneously and in conjunction received a binding offer from Karnov Group to acquire its Spanish legal information business. The transaction would be subject to antitrust approval in Spain. Upon completion of the transaction, Wolters Kluwer would receive 120 million in cash for its assets.

The intended divestment by Wolters Kluwer will sharpen the Legal & Regulatory division’s focus on businesses where it has the strongest market positions and the best opportunities to drive future growth. Signing of a final agreement is conditional upon completion of the consultation with the European and French works councils. Completion of the transaction would be conditional upon antitrust approval in Spain and is expected during 2022. The units to be divested will be treated as assets held for sale in Wolters Kluwer’s 2021 accounts, but will continue to be consolidated until completion. The use of net after tax proceeds will be determined in 2022.

The French and Spanish legal information units to be sold by Wolters Kluwer employ approximately 650 FTEs. In 2020, the units generated approximately €85 million (about 9% of Legal & Regulatory division revenues) and were profitable. The units primarily support law firms, corporations and the public sector with information products in digital and print formats. In France, the business includes Lamyline for legal professionals and Liaisons Sociales for labor law and HR specialists, among other offerings including training. In Spain, the business includes La Ley for legal professionals, CISS for tax and HR specialists, as well as online training services.

About Wolters Kluwer
Wolters Kluwer (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.

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