Pearson to sell Wall Street English to consortium

Pearson PLC announced on Monday that it has agreed to sell Wall Street English to a consortium consisting of funds affiliated with Baring Private Equity Asia and CITIC Capital.

The transaction is expected to generate gross cash to Pearson of around $300 million.

"The sale of Wall Street English is part of our continued effort to focus on a smaller number of bigger opportunities in global education and to become simpler and more efficient," said John Fallon, Pearson's chief executive.