Pearson To Get $115 Million Additional Cash Over Government Solutions Sale
17 August 2011 - 8:38AM
Dow Jones News
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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