Laureate Education Announces Closing of Sale of INTI Education Group to HOPE Education Group (Hong Kong) Company Limited
September 29, 2020 at 08:00 AM EDT
BALTIMORE, Sept. 29, 2020 (GLOBE NEWSWIRE) -- Laureate Education, Inc. (NASDAQ: LAUR) today announced that it has closed on the previously announced sale of INTI Education Holdings Sdn. Bhd. and its subsidiaries (INTI Education Group), a group of higher education institutions in Malaysia, to HOPE Education Group (Hong Kong) Company Limited.
HOPE Education Group (Hong Kong) Company Limited is an established operator of higher education institutions, including universities and vocational colleges.
The total transaction value was US$140 million. Laureate’s net proceeds from the transaction are estimated to be approximately US$120 million after a US$14 million payment to a minority equity shareholder and other fees.
President and Chief Executive Officer of Laureate, Eilif Serck-Hanssen, said: “We wish INTI Education Group well, as the institutions continue to provide their students with quality learning experiences and outcomes under the stewardship of HOPE Education Group.”
Rothschild & Co acted as financial advisor to Laureate, and DLA Piper acted as legal advisor.
About Laureate Education, Inc.
At Laureate Education, Inc., we understand the transformative power of education. For more than 20 years, we have remained committed to making a positive impact in the communities we serve, by providing accessible, high-quality undergraduate, graduate and specialized degree programs. We know that when our students succeed, countries prosper and societies benefit. Our longstanding commitment to operating with purpose is evidenced by our status as one of the world’s largest Certified B Corporations® and being the first Public Benefit Corporation publicly listed on any stock exchange in the world.
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