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Announced

Completed

Bertelsmann completed the acquisition of the remaining 25% stake in Penguin Random House from Pearson for $675m.

Synopsis

Bertelsmann, one of the world's largest media companies, completed the acquisition of the remaining 25% stake in Penguin Random House, a consumer book publishing company, from Pearson, a British-owned education publishing and assessment service, for $675m. "As our venture with Bertelsmann comes to an end, we wish our colleagues and authors in Penguin Random House every future success. While we are experiencing unprecedented times as a result of COVID-19, we are taking all precautionary measures to protect our business. Our balance sheet is strong, our net debt is relatively low, and we have good liquidity. Furthermore, the growing interest in online learning puts us in a strong position given our global leadership and investment in this area," John Fallon, Pearson Chief Executive.

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