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BRIEF-Pearson To Sell Wall Street English To A Consortium Of Funds​
November 27, 2017 / 7:50 AM / 15 days ago

BRIEF-Pearson To Sell Wall Street English To A Consortium Of Funds​

Nov 27 (Reuters) - Pearson Plc:

* DISPOSAL

* PEARSON ANNOUNCES SALE OF WALL STREET ENGLISH​

* PEARSON - ‍HAS AGREED SALE OF WALL STREET ENGLISH (WSE) TO A CONSORTIUM CONSISTING OF FUNDS AFFILIATED WITH BARING PRIVATE EQUITY ASIA AND CITIC CAPITAL​

* ‍MOELIS & COMPANY ACTED AS FINANCIAL ADVISOR TO PEARSON ON THIS TRANSACTION​

* PEARSON - ‍TRANSACTION IS EXPECTED TO GENERATE GROSS CASH TO PEARSON OF AROUND $300M AFTER ADJUSTMENTS FOR ASSUMED DEFERRED REVENUE AND HISTORICAL TAX LIABILITIES​

* PEARSON - ‍IMPROVEMENT IN PEARSON NET DEBT AS A RESULT WILL BE C. $100M AS AROUND $150M OF OPERATING CASH WILL BE RETAINED IN DISPOSED BUSINESS​

* ‍TRANSACTION IS EXPECTED TO CLOSE IN FIRST HALF OF 2018​ Source text for Eikon: Further company coverage:

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