Pearson: disposal of Chinese division.
(CercleFinance.com) - Pearson announced on Wednesday that it has sold "Global Education" division to Puxin Education for 80 million dollars.
This transaction is part of the group's strategy, which apspires to focus on online services.
Global Education offers English clases to Chinese students. This entity generated 78 million pounds in revenue last year, although made an adjusted operating loss of 4 million dollars.
As a reminder, Pearson announced at the beginning of the month that it was slashing its dividend by 72% to 5 pence per share, in addition to making a number of redundancies.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
This transaction is part of the group's strategy, which apspires to focus on online services.
Global Education offers English clases to Chinese students. This entity generated 78 million pounds in revenue last year, although made an adjusted operating loss of 4 million dollars.
As a reminder, Pearson announced at the beginning of the month that it was slashing its dividend by 72% to 5 pence per share, in addition to making a number of redundancies.
Copyright (c) 2017 CercleFinance.com. All rights reserved.