On cyber Monday, everyone is hunting for a bargain. Few can have found one as good as Barings Private Equity Asia and Citic Capital, which agreed to buy Wall Street English – the business which teaches English language to over 180,000 Chinese people – from Pearson (PSON) for a measly $300m (£225m).
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Wall Street English generated revenues of £175m and adjusted operating profit of £7m in the year to December 2016, and comes with $150m of cash. Pearson itself will only net $100m from the sale, after accounting for $50m of tax and transaction costs.
