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Pearson sells stake in Penguin Random House

by LLB Editor
18th Dec 19 7:28 am

Pearson is selling its remaining 25% stake in Penguin Random House to Bertelsmann, generating net proceeds of approximately $675m (£530m), and will conduct a £350m share buyback.

John Fallon, Pearson’s chief executive, said: “For almost 50 years, Pearson has been proud to play our part in the publishing and commercial success of first Penguin and then more recently Penguin Random House. With the sale of our remaining stake to our partners, Bertelsmann, we know the company is in good hands – and we wish our colleagues and authors every future success”

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