Smith WH PLC
6 March 2000
HODDER HEADLINE DISPOSES OF SOUTHERN AFRICAN BUSINESS
Hodder Headline, a subsidiary of WHSmith PLC, announced today (6
March) that it had reached a conditional agreement for the
distribution of its UK educational titles (including Teach Yourself)
in Southern Africa and for the sale of 100 per cent of the share
capital in Hodder & Stoughton Education Southern Africa ('HSESA') to
Macmillan Publishers Limited.
The sale is subject to approval by the South African Competition
Commission. Regulatory approval is being sought and it is hoped that
clearance may be received during April.
The sale is in accordance with Hodder Headline's strategy of
concentrating on markets where it can be a leader. Hodder Headline
will continue to vigorously develop its educational, academic and
consumer publishing in other markets.
In the year to 31 August 1999, HSESA had sales of around £1m. The net
asset value of the transaction is approximately £0.5m.
Enquiries:
Tim Hely Hutchinson, Hodder Headline 020 7873 6011
Chief Executive
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