UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the
month of August 2017
PEARSON plc
(Exact
name of registrant as specified in its charter)
N/A
(Translation
of registrant's name into English)
80 Strand
London, England WC2R 0RL
44-20-7010-2000
(Address
of principal executive office)
Indicate
by check mark whether the Registrant files or will file annual
reports
under
cover of Form 20-F or Form 40-F:
Form
20-F
X
Form 40-F
Indicate
by check mark whether the Registrant by furnishing the
information
contained
in this Form is also thereby furnishing the information to
the
Commission
pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934
Yes
No X
16th August 2017
London
Press Release
Pearson announces the sale of GEDU to Puxin Education.
Pearson is today announcing that it has completed the sale of
Global Education (GEDU) to Puxin Education. The disposal, together
with the sale of associated property assets, is expected to
generate gross cash proceeds to Pearson in the region of
$80m.
GEDU is a leading provider of English language training and test
preparation for Chinese students wishing to study abroad. In 2016
the business served 64,000 learners with revenue of £78m and
an adjusted operating loss of £4m. In 2016 GEDU had
approximately 1,900 FTE employees.
The sale marks progress in Pearson's strategic shift away from
large-scale direct delivery services to focus on more scalable
online, virtual, and blended services. It follows Pearson's
announcement at its full year 2016 results in February that it was
exploring a possible exit of the business.
Moelis & Company acted as financial advisor to Pearson on this
transaction.
Notes to editors
About Pearson
Pearson is the world's learning company, with expertise in
educational courseware and assessment, and a range of teaching and
learning services powered by technology. Our mission is to help
people make progress through access to better learning. We believe
that learning opens up opportunities, creating fulfilling careers
and better lives. For more, visit: www.pearson.com/corporate
About GEDU
Founded
in 1997, GEDU is a leading education company focused on English
language training and test preparation for students wishing to
study abroad, providing a range of world-class products and
services including study-abroad consultation, pre-test trainings on
IELTS and TOEFL, as well as some international curriculums. GEDU
was acquired by Pearson in 2011.
About Puxin Education
Puxin Education is a private education company providing tutorial
program for K-12 education, overseas test prep and college
admission counselling services in more than 30 cities in
China.
For more information
T: + 44 (0)20 7010 2310
Investors: Jo Russell, Tom
Waldron, Anjali Kotak
International media: Tom
Engel, Tom Steiner
Ends
Forward looking statements:
Except for the historical information contained herein, the matters
discussed in this statement include forward-looking statements. In
particular, all statements that express forecasts, expectations and
projections with respect to future matters, including trends in
results of operations, margins, growth rates, overall market
trends, the impact of interest or exchange rates, the availability
of financing, anticipated cost savings and synergies and the
execution of Pearson's strategy, are forward-looking statements. By
their nature, forward-looking statements involve risks and
uncertainties because they relate to events and depend on
circumstances that will occur in future. They are based on numerous
assumptions regarding Pearson's present and future business
strategies and the environment in which it will operate in the
future. There are a number of factors which could cause actual
results and developments to differ materially from those expressed
or implied by these forward-looking statements, including a number
of factors outside Pearson's control. These include international,
national and local conditions, as well as competition. They also
include other risks detailed from time to time in Pearson's
publicly-filed documents and you are advised to read, in
particular, the risk factors set out in Pearson's latest annual
report and accounts, which can be found on its website
(www.pearson.com/investors). Any forward-looking statements speak
only as of the date they are made, and Pearson gives no undertaking
to update forward-looking statements to reflect any changes in its
expectations with regard thereto or any changes to events,
conditions or circumstances on which any such statement is based.
Readers are cautioned not to place undue reliance on such
forward-looking statements.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
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PEARSON
plc
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Date: 16
August 2017
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By: /s/
NATALIE DALE
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Natalie
Dale
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Deputy
Company Secretary
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