Pearson to sell South African courseware business to Novus for $64 million – Reuters

The company logo is displayed outside the Pearson offices in London, Britain August 4, 2017. REUTERS/Neil Hall/File Photo

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Aug 12 (Reuters) – Education group Pearson (PSON.L) said on Friday it will sell 75% of its South African courseware publishing business to print production firm Novus Holdings (NVSJ.J) for 53 million pounds ($64.30 million).

The company said the sale concludes the strategic review of its International Courseware local publishing businesses, whose disposal will have a 15 million-20 million pound impact to its 2022 adjusted operating profit.

The business being sold in South Africa includes its K12, Technical & Vocational Education and Training catalogue and higher education courseware.

($1 = 0.8242 pounds)

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Reporting by Sinchita Mitra in Bengaluru

Our Standards: The Thomson Reuters Trust Principles.

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