Hudson Global Inc.’s (NASD: HSON) stockholders yesterday approved the proposed sales of the company’s recruitment and talent management businesses in Europe and Asia Pacific. Hudson announced in December that it entered into agreements to sell the operations to strategic buyers in three transactions.

Hudson intends to focus on its growing, global RPO business going forward.

Under the terms of the agreements, Hudson will receive estimated proceeds of $41.2 million in cash, subject to adjustment. The company expects to close the transactions at the end of this month, subject to customary closing conditions.

The transactions include:

• Sale of Hudson’s recruitment and talent management operations in Benelux to Value Plus NV, in a management buyout led by Hudson Benelux CEO Ivan De Witte, for $24.7 million in estimated net proceeds, subject to customary transaction adjustments. 
• Sale of Hudson’s recruitment and talent management operations in the rest of Europe to Morgan Philips Group SA, for $10.5 million in estimated net proceeds, subject to customary working capital and transaction adjustments. Morgan Philips is an executive search firm operating in 13 countries with specialisms in interim management and outplacement as well as more traditional recruitment and RPO services under the Fyte brand.
• Sale of Hudson’s recruitment and talent management operations in Asia Pacific to Apache Group Holdings Pty. Ltd., in a management buyout led by Hudson Asia Pacific CEO Mark Steyn, for $6.0 million in estimated net proceeds, subject to customary transaction adjustments. The buyer will assume the company’s short-term debt in Asia Pacific, which was $5.1 million as of 31 December.