Pearson sells Economist stake for $731 million

August 12, 2015 9:09 AM

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Pearson sells Economist stake for $731 million

Pearson will offload its 50% stake in The Economist Group for £469 million ($731 million) as it continues to steer away from news and focus on education.

Most of the shares will be sold to Exor, a European investment company controlled by Italy's billionaire Agnelli family. Exor will purchase 27.8% of its shares, raising its existing shareholding in The Economist Group from 4.7% to 43.4%.

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