Thomson completes sale of education business
The Thomson Corporation (NYSE: TOC - News; TSX: TOC), a leading provider of information solutions to business and professional customers worldwide, today announced that it has completed the sale of the higher education, careers and library reference assets of Thomson Learning as well as the sale of Nelson Canada to a consortium of funds advised by Apax Partners (Apax) and OMERS Capital Partners (OCP).
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Combined, the total value of the transaction is approximately $7.75 billion, as previously announced. Thomson announced it had entered into definitive agreements with the funds advised by Apax and OCP on May 11, 2007.
Morgan Stanley and RBC Capital Markets acted as financial advisors to Thomson on the sale.