Pearson PLC (PSON.LN) said Tuesday it is selling its 61% Stake in Interactive Data Corporation for $33.86 per share making total proceeds of $2 billion.

MAIN FACTS:

-Interactive Data Corporation, a provider of financial market data, analytics and solutions, has entered into a definitive agreement to be acquired by investment funds managed by Silver Lake and Warburg Pincus in a transaction with a total value of $3.4 billion.

-Pearson has executed a written consent providing approval as a shareholder for the transaction.

-Transaction has fully committed financing, consisting of a combination of equity to be invested by Silver Lake and Warburg Pincus and debt financing to be provided by Bank of America Merrill Lynch, Barclays Bank PLC, Credit Suisse Securities (U.S.A) LLC and UBS Investment Bank.

-Deal is subject to regulatory approvals and customary closing conditions and is expected to close by the end of the third quarter of 2010.

-In 2009, Interactive Data contributed GBP484 million in sales and GBP148 million in operating profit to Pearson.

-Pearson intends to use the proceeds of the sale to accelerate the expansion of its businesses, including through bolt-on acquisitions, with a particular focus on adding complementary technology and services to its international, consumer and professional education businesses.

-Pearson shares at 0735 GMT up 6 pence, or 0.6%, at 1057 pence valuing the company at GBP8.58 billion.

-By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; ian.walker@dowjones.com
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