Lynn Forester de Rothschild is exploring a sale of a significant minority stake in The Economist Group, marking the first ownership shake-up in a decade at the 182-year-old magazine, reports Katherine Griffiths and Aaron Kirchfeld of Bloomberg News.
Griffiths and Kirchfeld report, “A sale process for around 20% in voting shares could kick off in the coming weeks and fetch about £200 million ($271 million) to £400 million, according to people familiar with the matter, who asked not to be identified because discussions are private. Forester de Rothschild is working with adviser Lazard Inc. and any sale is expected to attract high-net-worth individuals, family offices and strategic investors looking for deals in the premium media sector, the people said.<
“The businesswoman is conducting the strategic review of her stake as part of a longer-term reshaping of her investment portfolio, some of the people said. The Economist’s last significant ownership change took place in 2015, when education firm Pearson Plc sold most of its half stake to Italy’s Agnelli family, which became the largest investor with a 43.4% stake held by its Exor NV investment firm.
“No final decision has been made and the size and details of the divestment could still change. A representative for the Eranda Rothschild Foundation, a British charity where Forester de Rothschild serves as a trustee, declined to comment.”
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