Wolters Kluwer says to sell education unit
(Adds shares, background)
AMSTERDAM, March 16 (Reuters) - Dutch publisher Wolters Kluwer NV (WLSNc.AS) confirmed on Friday it plans to sell its education unit, which analysts have said could mean a cash return of up to 700 million euros ($933 million) to shareholders.
"A divestment of the education division is the preferred option since it will provide the business with the best opportunities for future expansion and enhance shareholder value," the company said in a statement. People familiar with the situation told Reuters this week that at least half a dozen bids were expected to be submitted for Wolters' education arm.
Publisher Pearson Plc (PSON.L), and Wendel Investissement (MWDP.PA), the owner of French education publisher Editis, were among the remaining suitors, the sources said.
Anglo-Dutch rival Reed Elsevier (REL.L)(ELSN.AS) and Canada's Thomson TOC.TO are also in the process of selling their education divisions.
Wolters shares hardly reacted to the news and traded down 0.3 percent at 22.14 euros by 1419 GMT. The DJ Stoxx media index .SXMP stood 0.5 percent higher.
Wolters Kluwer's education business had revenue of 316 million euros in 2006 and is active in primary, secondary, and vocational education in seven European countries, including the Netherlands, Sweden, Britain and Germany.
The unit has about 1,450 employees.
((Reporting by Niclas Mika, editing by Quentin Bryar; niclas.mika@reuters.com; Reuters Messaging: niclas.mika.reuters.com@reuters.net; +31 20 504 5008))
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