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.
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.
