Acquisition
20 February 2003 - 12:02AM
UK Regulatory
RNS Number:6982H
BPP Holdings PLC
19 February 2003
FOR IMMEDIATE RELEASE
BPP Holdings Plc acquires minority interest in
BLS/BPP Professional Development
BPP Holdings Plc (BPP), Europe's leading professional education company, is
delighted to announce that it has today acquired the remaining 49% of the share
capital of MAR Group Ltd, which currently trades under the name of BLS/BPP
Professional Development (BLS), for #5.4 million cash. BPP originally acquired
its 51% interest in BLS in December 1999 for #1.75 million.
BLS runs professional development courses for lawyers. Its courses are
accredited for CPD purposes by the Law Society, the Bar Council and the
Institute of Legal Executives.
BLS's audited consolidated turnover for the year to 31 December 2002 was #4.9
million with consolidated pre-tax profits of #1.072 million. Its audited
consolidated net assets at 31 December 2002 were #0.90 million (including cash
of #0.96 million).
Charles Prior, BPP's Chief Executive, says "Now that we own 100% of BLS we can
fully integrate it into the BPP Professional Education Group and benefit from
the economies that this will bring. We expect BPP to become one of the leading
providers of professional development courses for lawyers."
19 February 2003
Contacts:
Charles Prior (BPP Group Chief Executive) 020 8740 2274
Carl Lygo (BPP Law Division's Chief Executive) 020 7430 7034
This information is provided by RNS
The company news service from the London Stock Exchange
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