Wolters Kluwer completes divestment U.S. legal education business
01 Dezembro 2021 - 1:35PM
Wolters Kluwer completes
divestment U.S. legal education
business
December 1,
2021 — Wolters Kluwer today
announces that it has completed the divestment
of its U.S. legal education business to Transom
Capital Group.
As previously announced on September 27, Wolters Kluwer intends
to deploy the post-tax proceeds towards additional share
repurchases in order to mitigate the expected dilution to adjusted
earnings per share from the sale.
To this end, Wolters Kluwer has now granted a mandate to a
third-party to execute up to €60 million in share buybacks on our
behalf in the remainder of this year (the period starting December
2, 2021, up to and including December 29, 2021). Including this
mandate, when completed, total share repurchases will reach €410
million in 2021.
This mandate is governed by the limits of relevant laws and
regulations (in particular Regulation (EU) 596/2014) and Wolters
Kluwer’s Articles of Association. Repurchased shares are added to
and held as treasury shares and are either cancelled or held to
meet future obligations arising from share-based incentive
plans.
About Wolters KluwerWolters
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.
Wolters Kluwer reported 2020 annual revenues of €4.6 billion.
The group serves customers in over 180 countries, maintains
operations in over 40 countries, and employs approximately 19,200
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 (ADR) program.
The ADRs are traded on the over-the-counter market in the U.S.
(WTKWY).
For more information, visit www.wolterskluwer.com, follow us on
Twitter, Facebook, LinkedIn, and YouTube.
Media
Investors/AnalystsGerbert van Genderen
Stort
Meg
GeldensCorporate Communications
Investor Relationst + 31 172 641 230
t + 31 172 641
407 g.van.genderen.stort@wolterskluwer.com
ir@wolterskluwer.com
Forward-looking Statements and Other Important Legal
InformationThis report 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.
This press release contains information which is to be made
publicly available under Regulation (EU) 596/2014.
- 2021.12.01 Wolters Kluwer completes divestment U.S. legal
education business
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