Pearson to sell stake in Economist Group

Days after announcing it is to sell the Financial Times, Pearson has confirmed plans to sell its 50% stake in the Economist Group.

Last week the publishing group said it had sold the FT to Japan’s Nikkei for £844m and now confirms it is discussions to sell its stake in the Economist – but added there was “no certainty that this process will lead to a transaction”.

No buyer has been named, but Italy’s Agnelli family – via its investment arm, Exor – has said on its website that it is in talks to increase its holding, but also confirmed there was no certainty of a deal going ahead.

Similarly, the Financial Times reports that the Rothschild family is expected to be a buyer and, along with the Cadbury and Schroder families, already holds a stake in the group.
[advert position=”left”]
The FT also reports that Pearson had been rebuffed in previous attempts to take full control of the Group – which includes the Economist magazine, the Economist Intelligence Unit and the US legislative information provider CQ Roll Call – in the last 15 years.

Two sources close to the situation told the FT that Pearson’s stake would be worth about £400m.