MBO on cards at FT Business

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 Pearson, owner of the Financial Times, has put the last of its specialist UK magazine publishing arms, FT Business, up for sale as it shifts its focus toward its international businesses.

A management buy-out is one of the offers on the table. FT Group chief executive Stephen Hill has stood aside from his day-to-day role to lead a take-over of the publishing division.

Pearson has also been approached by several interested parties from outside the business and has appointed investment bank Lazard as its adviser for the sale.

FT Business houses magazines on the UK retail, personal and institutional finance industries and includes Investor's Chronicle, The Banker, Money Management and Financial Adviser in its portfolio.

It is believed to have so far received offers of up to £60m but has not commented on specifics regarding the sale. Analysts have said that the business is likely to fetch up to three times its revenues, which reached £30m last year.

Luke Swanson, a spokesperson for the group, said: "These titles are fairly specialist and largely focused on the UK and Pearson is looking now at growing a more international business."

Pearson's international assets include the Financial Times and The Economist, in which Pearson has a 50% stake.

The move is in line with recent streamlining at the company as it divests non-core assets in an attempt to manage rising debts. Most recently it sold its 22% stake in RTL Group to Bertelsmann for £944m.