Goldman Sachs Group Inc. was hired by Bridgepoint Advisers Ltd. to oversee a possible sale of Noordhoff Uitgevers. The move was after the government tried to lower the cost of school materials.
Noordhoff is a Dutch textbook publisher and a Bridgepoint asset. The private equity firm would separate the publisher from other education assets it had acquired from Wolters Kluwer NV. This was according to two people who were familiar with the matter. However, sources asked not to be named as the matter was held private in nature. In 2007, Bridgepoint paid EUR774 million for the businesses.
Officials at Bridgepoint refused to give statements regarding the deal. Goldman Sachs representatives also declined to comment.
Yesterday, the Dutch Undersecretary for Education had announced plans to stop funding free textbooks for school pupils in the secondary level. From 2015, parents would be required to pay EUR300 a year for books. According to its website, Noordhoff has 355 employees and developed study kits used on iPad.
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