Houghton Raises Cash by Selling College Assets to Cengage for $750 Million Highly-leveraged Houghton is working to bring down their debt levels by selling off their College Division for $750 million, to Cengage Learning (the company formerly known as Thomson Learning). Cengage says they can finance the deal under their current credit agreement with the Royal Bank of Scotland, along with an unspecified “additional equity investment” from the private equity partners that own the company. Houghton says it wants to “focus on its core K-12 educational publishing business,” which will expand further once their acquisition of the Harcourt Education assets […]
