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LONDON, July 25 (Xinhua) -- British publisher and educational group Pearson Plc is in talks to divest its 50 percent stake in the Economist Group, who run the international news and business magazine Economist.
On the same day, Financial Times reported that the negotiation is focusing on selling Pearson's 50 percent stake holding in the group to other shareholders, including the investment vehicle of Italy's Agnelli family.
Two days after selling the FT Group to Japan's Nikkei Inc. Wholesale Football Jerseys , Pearson said in an email statement on Saturday that: "Pearson confirms it is in discussions with the Economist Group board and trustees regarding the potential sale of our 50 percent share in the group."
"There is no certainty that this process will lead to a transaction," noted the publisher.
Nikkei is agreed to acquire the FT Group from Pearson for 844 million pounds, or 1.3 billion U.S. dollars in cash. The deal comprises of the Financial Times newspaper, FT and FTChinese, and titles such as The Banker and Investors Chronicle Wholesale Nike NFL Jerseys , but excludes the FT Group's London property in central London and the Economist stake, said Pearson on Thursday, or July 23.
FT reported that Exor, an Italian investment company run by John Elkann, scion of the Agnelli family Wholesale NFL Jerseys , had commented its role in the talks may lead to the "possibility of increasing its investment in the group".
"Were it to proceed, Exor's increased investment would in any event represent a minority shareholding in the Economist ... also reflecting Exor's strong commitment to the editorial independence that lies at the heart of the Economist's ethos and success," said Exor.
The report, citing a person close to the potential deal, noted that Exor would not be seeking the full stake being sold by Pearson.
Elkann is on the Economist Group's board Wholesale Jerseys From China , holding five percent of stake of the group.
Other potential buyers include the three families that have long controlled most of the other 50 percent stake of the Economist Group. They are the Schroders, the Cadburys and the Rothschilds, said FT. Lynn Forester de Rothschild and her husband Sir Evelyn de Rothschild control about 22 percent of the group.
Pearson's stake in the Economist Group would be worth around 400 million pounds, said FT citing two people close to the situation.
Besides the prestigious magazine, the Economist Group is also running information provider the Economist Intelligent Unit and CQ Rall Call. The group had operating profits of 60 mil.