Train: FT was sold for the highest possible price

Manager praises Pearson for maximising sale value

Lindsell Train co-founder Nick Train has said that he is confident Pearson, a company he owns in his funds, sold the Financial Times and Economist for the highest price possible.

Education conglomerate Pearson announced in late July it was selling the 127-year-old FT to Nikkei in a £844m deal. Days later Pearson sold its 50% stake in the Economist for a further £469m to existing shareholders Exor and to the Economist group directly. Commenting in the July update for his CF Lindsell Train UK Equity fund, Train (pictured) said that his conversations with Pearson had reassured him of the timeliness of the disposals. "We met with management recently and were persuaded that FT and Economist are more valuable today than at any point in the last decade and that se...