Pearson To Sell Local K12 Courseware Businesses In Italy And Germany To Sanoma

(RTTNews) - Pearson Plc. (PSO, PSON.L) said that it has agreed to sell its local K12 Courseware businesses in Italy and Germany to European K12 learning services company Sanoma Corporation for headline consideration of 163 million pounds in cash.

As per the terms of the transaction, Pearson will also enter into an agreement with Sanoma for it to distribute Pearson's English Language Teaching products in Italy.

In March 2021, Pearson announced a strategic review of its International Courseware local publishing businesses. As part of the review, Pearson already completed the disposal of its Brazilian sistemas business in October 2021 for 108 million pounds.

Pearson said Tuesday that it continues to make good progress in the remaining areas of the strategic review and will provide a further update on this in due course.