You are here

Languages

Herbert Smith Freehills advises Pearson on sale of Italian and German K12 Courseware businesses to Sanoma

10 June 2022 | Europe
Deals and cases

Share

Leading global law firm Herbert Smith Freehills has advised Pearson plc, the world's leading learning company, on the sale of its local K12 Courseware businesses in Italy and Germany to Sanoma Corporation, a leading European K12 learning services company operating in 11 countries and listed in Nasdaq Helsinki (SAA1V).

The headline consideration of this transaction is £163m, which will be paid in cash on completion, subject to typical working capital adjustments. Under the terms of the transaction, Pearson will also enter into an agreement with Sanoma for it to distribute Pearson's English Language Teaching products in Italy.

Herbert Smith Freehills advised on all aspects of the transaction, including on local law matters in Italy and Germany, together with support from LCA Studio Legale in Italy.

The deal team was led by Head of Global M&A practice Gavin Davies and senior associates Laura Ackroyd and Ben Waterfall, supported by associates Cassie Ayre, Filip Gavanski and Stuart Kerr and trainee Lucy Kelly. The wider team included Veronica Roberts (partner, Competition), Aaron White (partner, Corporate), Isaac Zailer (partner, tax), Francesca Morra (partner, Corporate Italy), Christoph Naworth (partner, Corporate Germany), Christine Young (partner, EPI), Paul Ellerman (partner, EPI), Pietro Pouché (partner, IP Italy), Dan Pearce (consultant, IP London), and many others.

Media Contact

For further information on this news article, please contact:

Wendy Lee-McGuinness, Communications Manager

London
Tel: 
+44 20 7466 6400
Mob: 
+44 7920 757510