Wolters Kluwer Legal & Regulatory Solutions in Agreement to Divest 55% Stake in Russian Entity –
http://globenewswire.com/news-release/2015/09/03/765994/10148244/en/Wolters-Kluwer-Legal-Regulatory-Solutions-in-Agreement-to-Divest-55-Stake-in-Russian-Entity.html#sthash.4OTRca5i.dpuf
Alphen aan den Rijn, Netherlands, Sept. 3, 2015 (GLOBE NEWSWIRE) — Wolters Kluwer Legal & Regulatory Solutions has signed an agreement to sell its 55% interest in Wolters Kluwer Russia Publishing Holding to the company’s minority shareholders. This holding company owns 100% of the Russian legal and regulatory business, MCFR.
The divestment, which is subject to closing conditions and is expected to close in the near term, has been precipitated by impending limits on foreign ownership in Russian media companies.
In 2014, the Russian business was fully consolidated in the Wolters Kluwer accounts and had revenues of €39 million. The divestment is expected to result in a one-time net loss of approximately €18 million, of which the majority is foreign exchange related. Terms of the agreement have not been disclosed.
About Wolters Kluwer
Wolters Kluwer is a global leader in professional information services. Professionals in the areas of legal, business, tax, accounting, finance, audit, risk, compliance and healthcare rely on Wolters Kluwer’s market leading information-enabled tools and software solutions to manage their business efficiently, deliver results to their clients, and succeed in an ever more dynamic world.
Wolters Kluwer reported 2014 annual revenues of €3.7 billion. The group serves customers in over 170 countries, and employs 19,000 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.
Wolters Kluwer shares are listed 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).
For more information about our products and organization, visit www.wolterskluwer.com, follow @Wolters_Kluwer on Twitter, like us on Facebook, follow us on LinkedIn, or follow WoltersKluwerComms on YouTube.
– See more at: http://globenewswire.com/news-release/2015/09/03/765994/10148244/en/Wolters-Kluwer-Legal-Regulatory-Solutions-in-Agreement-to-Divest-55-Stake-in-Russian-Entity.html#sthash.4OTRca5i.dpuf
