Business
Update on Disposal of Education & Care division
Update on Disposal of Education & Care division.
About this update from Smiths News Plc
[{"type":"text","content":"\n \nRNS Number : 8086G Connect Group PLC 01 June 2017 \n\n1 June 2017\n \nConnect Group PLC\n('Connect Group' or 'the Company')\n \nUpdate on the Proposed Disposal of Education & Care division to RM plc \n \nOn 7 February 2017, Connect Group PLC announced that it had signed an agreement with RM plc (\"RM\") to dispose of its Education & Care division (the \"Transaction\"), conditional on approval from each of RM's shareholders and by the Competition & Markets Authority.\n \nThe Company is pleased to note that the Competition & Markets Authority has earlier today announced that it has unconditionally cleared the Transaction, paving the way for the Transaction to proceed to completion.\n \nAccordingly, the Company expects the Transaction to complete on or around 30 June 2017.\n \nA further announcement will be made in due course. \n \nEnquiries:\n \n\n\n\n\nConnect Group PLC\nMark Cashmore, Group Chief Executive\nDavid Bauernfeind, Chief Financial Officer\n\n\n \n01793 563641\n\n\n\n\nwww.connectgroupplc.com\n \n\n\n\n\n\n\n\nBuchanan\nRichard Oldworth / Jamie Hooper\[email protected]\nwww.buchanan.uk.com\n\n\n \n020 7466 5000\n\n\n\n\n\n\n\n\n\n\n\n\n \nAbout Connect Group\n \nConnect Group PLC is a leading specialist distributor operating in large and diverse markets. The Group has four separate divisions, connecting suppliers to customers in an efficient, knowledgeable and service oriented way:\n \n· Connect News & Media - Encompassing: Smiths News, Dawson Media Direct and Pass My Parcel. Smiths News is the UK's largest newspaper and magazine wholesaling business with an approximate 55 per cent. market share. It distributes newspapers and magazines on behalf of the majority of the major national publishers as well as a large number of regional publishers serving approximately 30,000 customers across England and Wales on a daily basis, including large general retailers as well as smaller independent newsagents with approximately 40 million newspapers supplied weekly; Dawson Media Direct is an international media direct business supplying newspapers, magazines and inflight entertainment technology and content to over 80 airlines in 50 countries. Pass My Parcel, a wholly-owned 'click and collect' de...