Pearson, international media group and publisher of the Financial Times, is selling its 50% interests in the French investment banker Lazards to investment company Gaz et Eaux, for £410 million. This ends an 80 year relationship between Pearson and Lazards.
Lazards’ main activities are investment banking and asset management. Pearson intends to use proceeds from the sale to reduce debt. Pearson is also planning to extend the scope of its strategic alliance with Telefonica, the Spanish telecommunications company, to explore internet and multimedia opportunities in the Spanish and Portuguese speaking worlds.
Marjorie Scardino, CEO of Pearson, commented: “Pearson’s relationship with Lazards has been a long, happy and very profitable one. This sale allows us to invest all our resources in the businesses we manage and that are forming the future of Pearson.”
Pearson: 0171 411 2000
Media Jobs
Hello. We have downloaded cookies on your device. Some of these cookies are essential for the website to function. Others are non-essential and are used for analytics and advertising.
We need your consent for these types of cookies.
To withdraw your consent or change your cookie choices, please do this through your browser settings.
Otherwise, click OK to accept and continue.
