Slaughter and May is advising Bertelsmann on its $675m acquisition of the remaining 25% stake in Penguin Random House

Slaughter and May is advising Bertelsmann on the English law and EU competition law aspects of its acquisition from Pearson of the remaining 25 per cent. stake in Penguin Random House not already owned by it.

The transaction is expected to close in the 2nd quarter of 2020, following receipt of regulatory approvals.

Bertelsmann and Pearson originally combined their respective Random House and Penguin Group book-publishing businesses in 2013 and Bertelsmann increased its stake to 75 per cent. in 2017. Slaughter and May previously acted for Bertelsmann on both of these transactions.

The firm is working as part of an integrated team with Bertelsmann’s in-house legal team, led by Bettina Wulf, and Davis Polk & Wardell LLP.