Magic Circle and US Firms Open New Chapter in Major Publishing Deal
U.K. media giant Pearson is to sell its remaining 25% stake in preeminent publisher Penguin Random House.
December 18, 2019 at 06:11 AM
2 minute read
Slaughter and May, Freshfields Bruckhaus Deringer, Morgan Lewis and Davis Polk are advising as U.K. media giant Pearson sells its remaining 25% stake in Penguin Random House to German media company Bertelsmann in a £530 million deal.
Pearson and Bertelsmann confirmed in separate statements that the German company will become the sole owner of Penguin, with Verlagsgruppe Random House – which is wholly owned by Bertelsmann – to become part of Penguin.
Freshfields and Morgan Lewis are advising Pearson, according to a person involved in the deal. The Freshfields team is made up of London-based corporate partners Ziyad Nassif and Oliver Lazenby, tax partner Paul Davison and pensions partner Charles Magoffin.
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