Pearson today announced that it has completed the sale of its 22% stake in European broadcaster, RTL Group, to Bertelsmann AG, as previously announced in December last year (see Pearson Agrees Sale Of RTL Stake).
Following the deal, Marjorie Scardino, chief executive officer of Pearson, and John Makinson, finance director at Pearson, will resign as non-executive directors of RTL Group.
The sale was completed on the terms announced in December, under which Bertelsmann agreed to pay Pearson E44 per share, or E1.5 billion in total, for the 22% stake.
