Pearson sells slice of Penguin for $1bn
The beleaguered FTSE 100 firm strengthens balance sheet by selling a 22% stake to Bertelsmann in deal valuing the publishing giant at $3.55bn
Pearson has sold a 22% stake in Penguin Random House, the world’s biggest publisher, with titles ranging from Fifty Shades of Grey, Jamie Oliver and The Girl on the Train. The deal values Penguin at $3.55bn (£2.75bn).
Pearson put its holding in PRH up for sale in January after issuing a string of profit warnings in its educational publishing business, and has sold the stake to partner Bertelsmann.
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