Wolters Kluwer today announced that it has entered into exclusive discussions with Castik Capital to sell its Transport Services unit following a binding offer of approximately €82 million in cash.
Upon receipt of the binding offer, Wolters Kluwer has granted an exclusivity period during which it will conduct an employee consultation process in accordance with French legal requirements. This process is expected to take some time.
In 2016, Transport Services generated revenues of €40 million and had approximately 220 employees in 11 countries. The business, which is mainly based in Europe, focuses on transport management solutions, an area no longer considered core to Wolters Kluwer. The Transport Services unit has been reported as part of the Governance, Risk & Compliance division. The envisaged sale of the unit is expected to have a slightly dilutive effect on adjusted earnings per share.
This 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.
Wolters Kluwer (EURONEXT: WKL) is a global leader in information, software solutions and services for professionals in healthcare; tax and accounting; financial and corporate compliance; legal and regulatory; corporate performance and ESG. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with technology and services. Wolters Kluwer reported 2024 annual revenues of €5.9 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 21,600 people worldwide.
