Pearson announced on 11 July that it would sell a 22% stake in book publisher Penguin Random House to majority owner, Bertelsmann, for about $1bn (c.£765m). The group will keep c.25% in the publisher (subject to an 18 months lock-up period from closing, Bertelsmann having a simplified right of first offer over Pearson’s remaining stake post lock-up), which had been created in 2012 when merging Penguin with Bertelsmann’s Random House. The transaction is still subject to regul
01 Aug 2017
Reducing its stake in Penguin Random House
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Reducing its stake in Penguin Random House
Pearson PLC (PSON:LON) | 993 -9.9 (-0.1%) | Mkt Cap: 6,792m
- Published:
01 Aug 2017 -
Author:
Véronique Cabioc'h -
Pages:
3
Pearson announced on 11 July that it would sell a 22% stake in book publisher Penguin Random House to majority owner, Bertelsmann, for about $1bn (c.£765m). The group will keep c.25% in the publisher (subject to an 18 months lock-up period from closing, Bertelsmann having a simplified right of first offer over Pearson’s remaining stake post lock-up), which had been created in 2012 when merging Penguin with Bertelsmann’s Random House. The transaction is still subject to regul