Pearson PLC (PSON.L,PSO) Monday said it agreed to buy a 75% stake in CTI Education Group of South Africa for £31 million in cash, establishing a partnership with CTI to expand its activities and reach more students in southern Africa.
Pearson expects the transaction to enhance its adjusted earnings per share and return on invested capital from 2011.
The CTI transaction which will strengthen Pearson's market-leading education company in southern Africa is subject to regulatory approval and is anticipated to close in the first quarter of 2011.
The deal also includes a provision under which Pearson may buy the remaining 25% of CTI in three years' time.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.