Reed Elsevier rebrands as RELX and overhauls corporate structureComments Off on Reed Elsevier rebrands as RELX and overhauls corporate structure
The company, which can trace its roots back 120 years to a newsprint manufacturing plant in Kent, provides content and analysis for professionals including doctors, lawyers, scientists and insurers.
It is also the world’s largest exhibitions business, hosting events like the Sao Paulo Motor Show, and works in other areas like developing black-box technology for insurers.
Having faced calls for a break-up in the past due to its sprawling structure, the Anglo-Dutch group is now combining all assets below its two parent companies into a single new group entity, Relx Group.
It also announced plans to launch a £500 million share buyback in 2015.
Ian Whittaker, analyst at Liberum Capital, said the move “will make Reed easier to understand and, therefore, should help the investment case”.
Chif executive Erik Engstrom added: “We are now extending our efforts to modernise and simplify the company to our corporate structure, our share listings, and our corporate entity names.
“We are announcing a set of changes that represent a significant simplification without impacting the economic interests of our shareholders.”