- Bloomsbury Publishing has agreed to acquire certain LexisNexis and Jordan family law publishing assets of RELX and Jordan Publishing as a pre-condition of the Competition and Markets Authority approval of the purchase of the Jordan publishing business by RELX.

Bloomsbury has agreed to acquire the family law publishing assets for up to a maximum consideration of £1.4m minus deferred income which is to be determined following completion.

The consideration will be satisfied in cash from existing cash resources and payable in two equal instalments, the first on completion and the second six months later.

Completion is conditional on CMA approval of RELX's acquisition of the Jordan publishing business, a ruling on which is expected in January.

Bloomsbury says the full benefit of the acquisition would be felt in the financial year 2016-17 and annually thereafter. Bloomsbury is acquiring the publishing rights to six highly regarded family law titles including Duckworth's Matrimonial Property & Finance and Hershman and McFarlane: Children Law and Practice.

The titles are sold in a practical loose-leaf format and are available in an online digital format. Bloomsbury says the acquisition is consistent with its strategy to increase its proportion of non-consumer revenues to 50%. Non-consumer revenues are more predictable and have lower related costs of sale with higher margins and are less reliant on retail bookshop sales. The titles also offer the further benefit of subscription annuities.

The gross profit, before marketing, distribution and administrative costs, attributable to the assets being acquired in the 12 months to 31 March 2015 was £0.8m on revenues of £1.1m. The book value of gross assets being acquired is negligible.

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