Pearson Explores Potential Sale of London Properties

Date : 05/25/2018 @ 11:19AM
Source : Dow Jones News
Stock : Pearson, (PSO)
Quote : 11.345  -0.215 (-1.86%) @ 3:59PM

Pearson Explores Potential Sale of London Properties

Pearson (LSE:PSON)
Historical Stock Chart

1 Month : From May 2018 to Jun 2018

Click Here for more Pearson Charts.
   By Adria Calatayud 
 

Pearson PLC (PSON.LN) said Friday that it is exploring a possible sale of its London properties as part of its efforts to restructure the company.

The London-based education publisher said it could market its property located at One Southwark Bridge--where the Financial Times newspaper is headquartered--for sale or redevelopment.

Another option could be to transfer its entire lease commitment at 80 Strand to an investor in a deal that would include the building at One Southwark Bridge, Pearson said. The company is also considering to sublease its entire 80 Strand property to find an alternative London location.

Pearson said it remains committed to having headquarters in London, but that it aims to have fewer than 100 office locations across the world by 2020. In 2014, Pearson had more than 200 offices.

The company said the property review is part of its 2017-19 restructuring program. It aims become a simpler and more efficient company, but Pearson said the review isn't linked to any further headcount reductions.

Pearson said it would remain in 80 Strand and review options at a later date if none of its planned scenarios is executed. One90 High Holborn would remain a key location for the company in any scenario, the company said.

Pearson sold the FT to Nikkei Inc. in 2015, but kept hold of its offices.

 

Write to Adria Calatayud at adria.calatayudvaello@dowjones.com

 

(END) Dow Jones Newswires

May 25, 2018 11:04 ET (15:04 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.

Latest PSO Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.