Thomson to sell education assets

[Liblicense-L Listowner <liblicen@pantheon.yale.edu>]

http://www.businessweek.com/ap/financialnews/D8P2794G0.htm

The Associated Press May 11, 2007, 9:48AM EST

Thomson to sell education assets
STAMFORD, Conn.

Canada's Thomson Corp., which earlier this month bid $17.7 
billion for British financial news publisher Reuters Group PLC, 
said Friday it will sell certain education assets for $7.75 
billion in cash to funds affiliated with Apax Partners and OMERS 
Capital Partners.

Private equity firm Apax and asset management company OMERS are 
acquiring the higher education, careers and library reference 
divisions of Thomson Learning. Also included in the deal is 
Nelson Canada, which provides books and online resources for the 
Canadian educational market.

The transaction is expected to close in the third quarter. Morgan 
Stanley and RBC Capital Markets are financial advisers to Thomson 
on the sale.

Thomson said in October it intended to sell Thomson Learning to 
help it pursue opportunities more in line with its growth 
strategy. Analysts have said the expected sale provides crucial 
funding for Thomson's proposed takeover of Reuters.

A combined Thomson-Reuters would have a market capitalization of 
about $45 billion and top current market leader Bloomberg LP in 
providing real-time data to traders and investment professionals.

Thomson shares rose $1.43, or 3.5 percent, to $41.99 in morning 
trading.

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