25 Feb 2022
Karnov agrees to acquire Thomson Reuters Spain, Wolters Kluwer's Spain and France units for €160 million
Thomson Reuters disclosed receiving a definitive offer from Karnov Group to purchase its Legal Business in Spain, Editorial Aranzadi SAU, with plans to merge it with Wolters Kluwer France S.A.S and Wolters Kluwer Spain. The deal, emphasizing Thomson Reuters’ legal products tailored for the Spanish market, would not affect its continued service in Spain through its global products like Westlaw International and Practical Law. Steve Hasker, CEO of Thomson Reuters, remarked that the divestiture allows them to concentrate on global offerings and invest where they can most benefit their customers, expecting the business to thrive under new ownership.
Pontus Bodelsson, CEO of Karnov, noted the transaction's potential to enhance a respected business in the wake of digital transformation, promising to deliver high-quality services. The proposed sale is undergoing exclusive talks and awaits Spanish antitrust approval.
