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.
https://www.pearson.com/corporate/news/media/news-announcements/2017/08/pearson-announces-the-sale-of-gedu-to-puxin-education.html

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