Education firm Pearson to sell 22% Penguin stake for â¹6400cr
UK education company Pearson has agreed to sell a 22% stake it holds in worldâs biggest publisher Penguin Random House, to its joint venture partner Bertelsmann for around $1 billion (over â¹6,400 crore). Pearson said the sale would enable it to return $386 million of surplus capital to its shareholders. The deal would value Penguin Random House at $3.55 billion.