Baring PE, Citic Capital in talks to buy Pearson’s English-language school biz: Report

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Baring Private Equity and Citic Capital reportedly are in advanced talks to acquire the English-language school business of Pearson for over $350 million, according to a report in The Financial Times.

A deal for the Wall Street English unit deal could be signed within weeks as negotiations with both the buyers are in the final stages.

The company had announced in February that it is looking for a strategic buyer for Wall Street English as part of a strategic review after the group recorded its biggest ever loss last year after a writedown of its US higher education and testing business. It had also appointed New York-based boutique investment bank Moelis & Co as an advisor.

Last month, news agency Reuters reported that North Asia private equity firm MBK Partners is preparing a bid to buy Wall Street English.

Pearson had bought the English-language school business from PE firm Carlyle for around $240 million around 7-8 years ago.

Pearson offloaded its stake in Penguin Random House early this year. Prior to that in 2015, it disposed of The Financial Times and its stake in the Economist magazine.

Last year, publishing & education platform Pearson Education Services Pvt Ltd was reportedly looking to sell Tutorvista, a Bangalore-based online education services provider, in part or full.

Also Read:

India: Pearson in talks to sell Tutorvista

MBK Partners preparing bid for Pearson’s $400m English language unit

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.