AP - Canadian financial information provider Thomson Corp. said Thursday that it completed the sale of Thomson Learning assets and Nelson Canada to a consortium of funds in a deal valued at about $7.75 billion.
Funds advised by private-equity firm Apax Partners and Ontario-based pension plan OMERS Capital Partners are buying the higher-education, careers and library-reference assets of Thomson Learning. The funds are also acquiring Nelson Canada, an Ontario-based book publisher and provider of online resources.
Thomson announced it had entered into agreements with the funds on May 11. The company said in October that it would sell Thomson Learning because it did not fit the company's long-term strategic goals. Thomson is selling the assets ahead of its planned purchase of British financial news publisher Reuters.
Morgan Stanley (nyse: MS - news - people ) and RBC Capital Markets acted as financial advisers to Thomson on the sale.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment