Pearson has sold its 50 per cent stake in FTSE International to the London Stock Exchange Group (LSEG) for £450 million.

LSEG, which now fully owns FTSE, has financed the deal through existing surplus cash and new bank loans totaling £350 million.

The group claimed it would use the move to ‘invest in accelerating growth in FTSE's tradable index business, in expanding FTSE's product range and in offering FTSE's products into LSEG's customer base’.

FTSE International had total revenues of £98.5 million in 2010 and made a pre-tax profit of £40 million.

LSEG said it expected the acquisition to result in annual savings through cost synergies of £10 million and an increase in revenues of £18 million within three years.

Xavier Rolet, CEO of LSE Group, commented, ‘Fully aligning FTSE with one of the world's most liquid and most international trading groups is an exciting opportunity.

‘This is a business we know well, and we expect that going forward our customers will benefit from greater choice, opportunity and innovation. Immediately earnings enhancing, we expect this transaction to create long term value and growth for our customers and shareholders.’

Pearson, which owns the Financial Times and Penguin Books, explained that the sale was part of an ongoing effort to ‘exit from companies that are primarily providers of financial data’ to focus more on ‘global business news, analysis and intelligence’.

Marjorie Scardino, chief executive of Pearson, explained, ‘The transaction further strengthens our financial position at a time of significant macro economic turbulence.

‘We are freeing up capital for continued investment in a proven strategy: becoming more digital, more international and more service-oriented in education, business information and consumer publishing.’

Shares in Pearson have remained virtually unchanged following the announcement, but LSEG was trading down 4.27 per cent at 785p at 10.50am, as investors reacted cautiously to the takeover.

The deal is expected to be closed in the first quarter of 2012.