21 October 2017
Register now

Thomson to sell education assets for $7.75bn

11 May 2007  |  1970 views  |  0 Source: Thomson

The Thomson Corporation (NYSE: TOC - News; TSX: TOC), a leading global provider of information services to business and professional customers, today announced that it has signed definitive agreements with funds advised by Apax Partners (Apax) and OMERS Capital Partners (OMERS) under which such funds will acquire the higher education, careers and library reference assets of Thomson Learning, and a consortium of funds advised by OMERS and Apax will acquire Nelson Canada, for a combined total value of approximately $7.75 billion in cash.

The transaction is expected to close in the third quarter of this year and is subject to regulatory approvals and other customary closing conditions.

The higher education, careers and library reference assets include such well-known brands and businesses as: Wadsworth, Delmar Learning, Gale, Heinle, Brooks/Cole and South-Western. Nelson Canada, a leading provider of books and online resources for the educational market in Canada, will be majority-owned by OMERS.

This sale is part of Thomson's previously announced strategy to sell the assets of its Learning business to enable Thomson to pursue opportunities better aligned with its growth strategy and business model. On October 25, 2006, Thomson announced its intention to sell its Thomson Learning businesses, including those serving the higher education, careers, library reference, corporate e-learning and e-testing markets, via three independent sales processes.

Morgan Stanley and RBC Capital Markets are financial advisors to Thomson on the sale. Evercore Partners Incorporated and Atlas Advisors are financial advisors to Apax and OMERS on the acquisition. Acquisition finance was provided by The Royal Bank of Scotland, JPMorgan, Citigroup, UBS and The Royal Bank of Canada.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.fivedegrees.nlvisit www.vasco.comRegister now

Top topics

Most viewed Most shared
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
10179 views comments | 22 tweets | 26 linkedin
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
9370 views comments | 17 tweets | 23 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8986 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
8071 views comments | 9 tweets | 17 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
7773 views comments | 10 tweets | 22 linkedin

Featured job

circa £250K total package
London

Find your next job