10th Aug 2015 05:37
LONDON (Alliance News) - Pearson PLC is expected to announce a GBP400 million deal as early as this week to sell its 50% stake in The Economist Group, the Financial Times reports.
The De Rothschild family and Exor, the investment vehicle run by Italy's Agnelli family, are likely to emerge as the largest shareholders in The Economist Group, the publisher of The Economist magazine, following the deal, though the details of the sale are still being worked out, the FT said, citing people close to the matter.
Pearson acquired a stake in The Economist Group back in 1957 when it bought the Financial Times. At the end of July, Pearson agreed a GBP844 million deal to sell the FT to Japanese publisher Nikkei.
https://next.ft.com/c8e60786-3eb1-11e5-9abe-5b335da3a90e
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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