Wolters Kluwer Legal & Regulatory on Dec. 31 announced the sale of its French legal notices business, Annonces & Formalités Légales, to Médialex. Shares of the publishing company lost 1.2% at the close on Thursday.
Wolters Kluwer (0NMU) said that the divestment is consistent with the strategy of Legal & Regulatory to focus on professional information and software solutions in core legal markets. Financial terms of the deal weren’t disclosed.
Médialex is part of the Sipa-Ouest-France Group. Annonces & Formalités Légales is engaged in the publication of legal notices and announcements for businesses in France. (See 0NMU stock analysis on TipRanks)
On Dec. 11, Goldman Sachs analyst Katherine Tait raised the price target on Wolters Kluwer stock to EUR68.80 from EUR68.40, but reiterated a Sell rating.
From the rest of the Street, the stock scores an analyst consensus of a Hold based on 3 Holds, and 1 Sell. The average analyst price target of €72.45 implies upside potential of 4% to current levels.
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