Laureate Education Announces Closing of Sale of its Operations in Brazil

Rhea-AI Summary

Laureate Education (NASDAQ: LAUR) has completed the sale of its higher education institutions in Brazil to Ânima Holding S.A. This transaction aligns with Laureate's strategy to explore options for unlocking shareholder value. Ânima, one of Brazil's largest private educational organizations, serves around 140,000 students across various states. Laureate's CEO, Eilif Serck-Hanssen, expressed good wishes for Ânima as they continue to offer quality education. This sale is a significant step in Laureate's commitment to operational excellence and shareholder value enhancement.

Positive

• Successful closure of the sale of Brazilian operations aligns with strategic efforts to enhance shareholder value.
• Ânima Holding is well-positioned as a major player in Brazilian education with a large student base.

Negative

• None.

BALTIMORE, May 28, 2021 /PRNewswire/ -- Laureate Education, Inc. (NASDAQ: LAUR) today announced that it has closed the previously announced sale of its higher education institutions in Brazil to Ânima Holding S.A. (B3: ANIM3).

Ânima is one of the largest private higher education organizations in Brazil, with around 140,000 students in the states of São Paulo, Minas Gerais, Goiás, Santa Catarina, Paraná, Bahia and Sergipe. Ânima's mission is to build a national network of educational institutions committed to quality, innovation and assessment of the learning process and integrated with the regional culture.

The transaction, which closed on the terms previously disclosed, resulted from Laureate's previously announced efforts to explore strategic alternatives for each of its businesses in order to unlock shareholder value.

President and Chief Executive Officer of Laureate, Eilif Serck-Hanssen, said: "We wish the institutions and Ânima well as they continue to deliver quality education with high employability and student satisfaction outcomes."

About Laureate Education, Inc.
At Laureate Education, Inc., we understand the transformative power of education. For more than 22 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 becoming 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

View original content:http://www.prnewswire.com/news-releases/laureate-education-announces-closing-of-sale-of-its-operations-in-brazil-301301827.html

SOURCE Laureate Education

FAQ

When did Laureate Education announce the sale of its operations in Brazil?

Laureate Education announced the sale of its operations in Brazil on May 28, 2021.

What is the stock symbol for Laureate Education?

The stock symbol for Laureate Education is LAUR.

Who acquired Laureate Education's institutions in Brazil?

Ânima Holding S.A. acquired Laureate Education's institutions in Brazil.

What is the significance of the sale for Laureate Education?

The sale is part of Laureate's strategic efforts to unlock shareholder value through operational restructuring.

How many students does Ânima serve?

Ânima serves approximately 140,000 students across various states in Brazil.