Pearson Plc announces exit from Penguin Random House

  • Dec 18, 2019 GMT
  • Team Kalkine
 
  • The company has agreed to sell its 25% stake in Penguin Random House (PGH) to Bertelsmann SE & Co KGaA for £530 million ($675 million)
  • The transaction values PGH at $3.67 billion
  • The disposal is subject to consent of regulators and is estimated to close in the first half of 2020
  • On 18th December 2019, the stock of PSON was trading at GBX 662.40 at GMT 09:48 AM, up 18.40 points or 2.86% from its previous close.

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