Press reports this morning suggest that Pearson has entered into exclusive talks with a management team concerning the buy out of FT Business, the company’s magazines division.
The team, led by ex-FT Group chief exec Stephen Hill, is thought to have made the highest bid following Pearson’s decision to sell. The bid is thought to have been in the region of £80 million and the team is allegedly backed by the private equity group Permira, formerly Schroder Ventures Europe.
Talks between the potential buyer, Pearson and its advisers Lazards are expected to last for several weeks.
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