British publisher Pearson is to sell its 50% stake in the Economist Group for £469 million to its existing investors, just weeks after agreeing the sale of the Financial Times newspaper to Japan's Nikkei.
Pearson said in a statement it had agreed to sell 27.8% of the Economist Group's shares to Exor, the holding of the Agnelli family, for £227.5 million and all of the B special shares for £59.5 million.
Pearson's remaining ordinary shares will be repurchased by The Economist Group for a total consideration of £182 million.
