by Nate Drescher
Chinese fund Citic Capital Holdings , together with Baring Private Equity Asia, is in talks to purchase Wall Street English from Pearson English Language Training, the world’s largest English-language educator.
The deal itself could be worth $390 million and would give Citic Capital Holdings managing control of Pearson’s TEFL arm, including Wall Street English which Pearson purchased in 2010.
Pearson ELT In Financial Trouble
Pearson (formerly Pearson-Longman) has been having financial difficulty for the past few years as the demand for textbooks has bottomed out. The company sold off Penguin Random House Books as well as the Financial Times in 2015, and is now looking to sell Wall Street English.
Wall Street English is the world’s largest English-language training firm and operates more than 400 schools in 27 countries. The deal could affect its 180,000 students and 4,700 employees.
Another Chinese firm, MBK Partners, has also expressed interest in buying the giant language school.