Thomson Reuters Announces Receipt of Binding Offer from Karnov Group to Purchase Legal Business in Spain
Thomson Reuters has received a binding offer from Karnov Group to purchase its Spanish legal business, specifically Editorial Aranzadi SAU. This acquisition, intended to be integrated with Wolters Kluwer's legal solutions in Spain and France, remains subject to antitrust approval in Spain. Despite this sale, Thomson Reuters plans to continue offering global content-driven technology solutions in the Spanish market. The management expresses optimism that the acquired business will thrive under Karnov’s ownership while allowing Thomson Reuters to focus on its broader service offerings.
- Receipt of a binding offer for the legal business can strengthen financial positioning.
- The sale allows Thomson Reuters to focus on its global product suite, potentially enhancing investor confidence.
- The divestiture may raise concerns about the company's market presence in Spain.
Thomson Reuters Spanish legal business intended to be sold in conjunction with Wolters Kluwer's legal research solutions in Spain and France
TORONTO, Dec. 9, 2021 /PRNewswire/ -- Thomson Reuters announced today that it has received a binding offer from Karnov Group ("Karnov") to purchase Editorial Aranzadi SAU ("Thomson Reuters Legal Business Spain"). As part of the offer, Thomson Reuters Legal Business Spain is intended to be combined with and sold in conjunction with Wolters Kluwer France S.A.S ("Wolters Kluwer France") and Wolters Kluwer España, S.A. ("Wolters Kluwer Spain").
While the proposed sale includes Thomson Reuters' legal products and solutions specific to Spain, Thomson Reuters will continue to serve the Spanish market through its global content-driven technology solutions, including Westlaw International, Practical Law, Contract Express, ONESOURCE, Confirmation and HighQ, among others.
"As a key player in content-driven technology, this transaction will allow us to focus on serving the Spanish market through our first-class global product suite. It will also enable us to further invest in key areas where we can deliver the most impact for our customers," said Steve Hasker, president and CEO of Thomson Reuters. "We believe this business will see continued success and growth under its new ownership."
"With shared history and values, we see the proposed transaction with Thomson Reuters as an attractive opportunity to further grow a strong and respected business," said Pontus Bodelsson, CEO of Karnov Group. "As the digital transformation progresses, we're especially eager to serve customers in this market with the high-quality products and services required to most effectively do their jobs."
Upon receipt of the offer, Wolters Kluwer and Thomson Reuters have granted Karnov an exclusive period of discussions. A transaction would be conditional upon antitrust approval in Spain.
Thomson Reuters
Thomson Reuters is a leading provider of business information services. Our products include highly specialized information-enabled software and tools for legal, tax, accounting and compliance professionals combined with the world's most global news service – Reuters. For more information on Thomson Reuters, visit tr.com and for the latest world news, reuters.com.
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SOURCE Thomson Reuters
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