The De Rothschild family and Exor, the investment vehicle of Italy's Agnelli family, are expected to become the largest single shareholders in the Economist Group when Pearson sells its stake for about £400 million,
the
Financial Times
reported.
The Economist Group is the publisher of
The Economist
magazine. Pearson acquired its 50% stake in the group along with
The Financial Times
in 1957. In July, Pearson agreed to sell the
FT
and related titles to Nikkei, a Japanese business publisher, in order to focus on education rather than media assets, the
FT
article said.
Exor has built a 4.7% stake in the Economist Group since 2009, when John Elkann, Exor's CEO, was appointed to the publisher's board, the
FT
article said. Lynn Forester de Rothschild and her husband, Sir Evelyn de Rothschild, currently control about 21% of the Economist Group, according to the report.
“As part of the deal, both the De Rothschilds and Exor are expected to receive additional seats on the board of the Economist Group,” the
FT
article said. (Source:
Financial Times
, Aug. 10, 2015.)
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