Education publisher Pearson said it had sold its local K12 Courseware businesses in Italy and Germany to Sanoma Corporation for £163m.
Under the terms of the deal, Pearson will also enter into an agreement with Sanoma for it to distribute Pearson’s English Language Teaching products in Italy, the company said on Tuesday.
The proceeds from the disposal were anticipated in Pearson’s decision to start its £350m share buyback programme, with more than £100m in shares repurchased since launch.
