Dutch information services and publishing group Wolters Kluwer has put its Education division up for sale, according to a report in today's Dutch newspaper, De Telegraaf.
The story claims that WK has sent out sales information to potential buyers, has appointed Lehman Brothers to oversee the sale, and that it expects to fetch up to Euro 700 million (about £470m). No sources are cited.
The Education division is one of five resulting from the company restructuring instigated by US-born CEO and chairman Nancy McKinstry, since she was appointed in 2003. The division is managed by Fred Grainger, a former Thomson Corporation employee.
Potential buyers for the WK division are cited as Pearson, Lagardere, SanomaWSOY – and Reed Elsevier (with whom WK is said to have been in merger negotiations with recently). The division is the largest educational publisher in Europe, with businesses in the UK, Holland, Belgium, Germany and Sweden.
If the reports are confirmed, this would be the second major For Sale notice put up on an education division in the last three months – last October, Thomson Corporation said it would auction its Education division in Q1 2007.
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