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This excerpt taken from the PSO 20-F filed Mar 26, 2009. Recent
developments
During 2008 Pearson’s International Education business
announced its intention to increase its stakes in Longman
Nigeria from 29% to 51% for £9m and Maskew Miller Longman
(its South African publishing business) from 50% to 85%. Under
the terms of the Maskew Miller Longman agreement, Pearson
intends to create a new Southern Africa business and in return
for the increased stake in Maskew Miller Longman our current
joint venture partner will receive £46m in cash and a 15%
interest in Pearson’s Heinemann and Edexcel businesses in
that region.
In addition Pearson’s International Education business also
announced the acquisition of Fronter, a European online learning
company based in Oslo, for £16m. The Longman Nigeria
acquisition completed in early January 2009 and the Fronter
acquisition in February 2009. The Maskew Miller Longman
transaction is expected to complete in the second quarter of
2009 following regulatory approval.
This excerpt taken from the PSO 20-F filed Apr 25, 2008. Recent
developments
On January 2, 2008, the Group completed its acquisition of
Money-Media, a US-based company offering online news and
commentary for the money management industry, for $64m.
On January 30, 2008, the Group completed its $647m
acquisition of Harcourt Assessment from Reed Elsevier, after
receiving clearance from the US Department of Justice. On
March 27, 2008, the Group disposed of its 50% interest in
Financial Times Deutschland to its joint venture partner, Gruner
+ Jahr.
On February 22, 2008, the Group completed the sale of its
Data Management (Scanners) business to M & F Worldwide
Corp. for $225m.
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