Wolters Kluwer in Talks to Sell Unit; Pearson Shares Up

  • SHARES

By Carmen Comment

The Associated Press reports that Dutch publishing company Wolters Kluwer NV said Friday it is in talks with private equity fund Bridgepoint Capital Ltd. to sell its education unit for 750 million euros to 775 million euros ($999 million to $1.02 billion). Wolters Kluwer, which sells education materials for primary, secondary and vocational education in Britain, Germany, and five other European countries including the Netherlands had announced earlier this month it was looking to sell the division, which it said had sales of 316 million euros in 2006 and around 1,500 employees.

Meanwhile, shares of Pearson reached their highest level for five years on Friday in the wake of Wolters Kluwer’s potential sale. Blackstone and KKR were named as potential stalkers as the shares rose 4.1 per cent, topping the FTSE 100 leader board. About 16 million shares changed hands, well above the average daily volume of 6.7 million.

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