Linklaters advises on sale of Pearson stake in The Economist Group
Linklaters has advised The Economist Newspaper on the sale by Pearson plc of its 50% stake in The Economist Group.
Under the deal, worth £469m, The Economist Group has agreed to repurchase 22% of its ordinary shares for £182m. The remaining shares have been bought by the Italian investment fund Exor - the investment vehicle of the Agnelli family, the owners of Fiat – for £287m.
The deal is expected to complete by the end of 2015, subject to approval of The Economist’s shareholders and independent trustees.
The Linklaters team was led by corporate partners Richard Godden, James Inglis and corporate managing associate Nicholas Edwards.
Other advisors included: Freshfields (Pearson), Macfarlanes (Exor).