Education. Pearson Plc is selling its US K12 courseware business to Nexus Capital Management for a headline consideration of $250m. Total proceeds comprise an initial cash payment of $25m and an unconditional vendor note for $225m expected to be repaid in 3-7 years. Following repayment of the vendor note, Pearson is entitled to 20% of future cash flows to equity holders and 20% of net proceeds in the event the business is sold.
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Pearson sells US courses for $250m
