£112m EDI deal cleared
The Office of Fair Trading has agreed to terms of the acquisition of Coventry-based Education Development International (EDI).
Pearson's £112m purchase of the company was cleared by the OFT after it said it would not refer the deal to the competition commission.
The two companies initially announced the acquisition in March this year, before agreeing terms of an extension to the offer on 5 May.
Pearson said that once the acquisition had been completed, EDI will stop trading on AIM and will be re-registered as a private limited company.
Pearson owns the world's largest education business.
John Fallon, chief executive of Pearson's International Education Business, said: "In EDI we have found a dynamic partner who shares our commitment to education and training. In the UK and around the world, we will be even better placed to work with employers and training partners to develop high quality apprenticeships and related qualifications. In this work, we will help companies to be more competitive and make their staff more employable."
