Media and education company Pearson PLC (PSON.LN) Wednesday said it expects to receive additional cash proceeds of $115 million before tax, relating to the sale of its Government Solutions business in 2006.

MAIN FACTS:

-In December 2006, Pearson announced the sale of its Government Solutions business to Veritas Capital.

-Sale agreement included the retention by Pearson of an equity stake in the business, which was renamed Vangent Inc.

-On Aug. 16, Veritas Capital reached agreement to sell the business to General Dynamics Corp (GD).

-Shares of Pearson on Tuesday closed at GBP10.85.

-By Tapan Panchal, Dow Jones Newswires. Tel +44(0)207-842 9448, tapan.panchal@dowjones.com

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