Laureate Education Announces Closing of Sale of INTI Education Group to HOPE Education Group (Hong Kong) Company Limited

Rhea-AI Summary

Laureate Education announced the completion of the sale of INTI Education Holdings and its subsidiaries to HOPE Education Group for a total transaction value of US$140 million. After deducting fees, expected net proceeds to Laureate are approximately US$120 million. This transaction aligns with Laureate's strategy to focus on high-quality educational services. President and CEO Eilif Serck-Hanssen expressed well wishes to INTI Education Group as it transitions to new ownership. Rothschild & Co and DLA Piper advised on the transaction.

Positive

• Transaction value of US$140 million enhances liquidity.
• Estimated net proceeds of US$120 million improves financial position.

Negative

• None.

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.

Investor Relations Contact:
ir@laureate.net

Media Contact:
Adam Smith
Laureate Education, Inc.                                                                            
adam.smith@laureate.net
U.S.: +1 (443) 255 0724                                                                                  

 

FAQ

What is the value of the sale of INTI Education Holdings by Laureate Education?

The sale of INTI Education Holdings was valued at US$140 million.

How much will Laureate Education receive from the sale after expenses?

Laureate Education expects to receive approximately US$120 million after fees.

Who acquired INTI Education Holdings from Laureate Education?

INTI Education Holdings was acquired by HOPE Education Group.

What is the significance of the sale for Laureate Education?

The sale aligns with Laureate's strategy to focus on high-quality educational services and enhances its liquidity.