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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Pearson Plc | LSE:PSON | London | Ordinary Share | GB0006776081 | ORD 25P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 997.60 | 999.60 | 1,000.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Miscellaneous Publishing | 3.67B | 378M | 0.5497 | 18.19 | 6.88B |
From May 2019 to May 2024
By Oliver Griffin
Pearson PLC (PSON.LN) said Monday that it has sold its U.S. K12 courseware business to Nexus Capital Management LP for $250 million.
The London-based education publisher said the proceeds comprise $25 million in cash plus an unconditional vendor note for $225 million, which is expected to be repaid in three to seven years.
Once the vendor note is repaid, Pearson is entitled to 20% of all future cash flows to equity holders and 20% of net proceeds if the business is sold.
The disposal is a part of the company's work to become simpler and more efficient, Pearson said.
Pearson said it expects the transaction to be completed at the end of the first quarter, and will use the cash proceeds generated from the sale for general corporate purposes.
Write to Oliver Griffin at oliver.griffin@dowjones.com; @OliGGriffin
(END) Dow Jones Newswires
February 18, 2019 02:25 ET (07:25 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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