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Laureate Education Inc (LAUR) delivers career-oriented higher education through a global network of licensed institutions. This news hub provides investors and stakeholders with essential updates on the company's academic initiatives, financial performance, and social impact programs.
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Laureate Education, Inc. (NASDAQ: LAUR) has successfully closed the sale of its Australian and New Zealand operations, including Torrens University Australia and Think Education, to Strategic Education, Inc. (NASDAQ: STRA) for US$642.7 million. After adjustments, Laureate received approximately US$650 million post-transaction fees. CEO Eilif Serck-Hanssen expressed good wishes for the buyer and the institutions involved, highlighting the continued delivery of quality education. This strategic move directs Laureate's focus on enhancing its educational impact.
Laureate Education has signed a definitive agreement with Ânima Holding for the sale of its Brazilian operations valued at R$4.6 billion (approximately US$765 million). After accounting for a termination fee to Ser Educacional, the net proceeds are around R$4.4 billion. The transaction includes R$3.8 billion in cash, with potential additional payments of R$203 million based on performance metrics. This deal is expected to close by Q2 2021, pending regulatory and shareholder approvals. CEO Eilif Serck-Hanssen expressed confidence in the future of Brazilian institutions under Ânima's ownership.
Laureate Education (NASDAQ: LAUR) has received a superior all-cash proposal from Ânima Holding for its Brazilian operations, approximately R$500 million above a previous agreement with Ser Educacional. The proposal includes an additional earn-out of R$200 million based on performance metrics and covers a R$180 million termination fee to Ser. Laureate plans to terminate its existing agreement with Ser and pursue the transaction with Ânima. Ser has sought litigation to halt the termination, but Laureate intends to fight this and proceed with the new offer.
Laureate Education, Inc. (NASDAQ: LAUR) will announce its third-quarter financial results for the period ending September 30, 2020, on November 5, 2020, before market open. A conference call for investors and analysts is scheduled for 8:30 a.m. ET on the same day to discuss the results and future business outlook. Interested listeners can join the call by dialing the specified numbers and will have access to a replay until November 12, 2020. More details, including the earnings release and related materials, will be available on their Investor Relations website.
Laureate Education (NASDAQ: LAUR) has entered into a definitive agreement with Fundación Nasser to transfer control of Fundaempresa, which oversees its operations in Honduras, including Universidad Tecnológica Centroamericana (UNITEC) and Centro Universitario Tecnológico (CEUTEC). Both institutions serve over 23,000 students across various programs. The transaction, expected to close in H1 2021, is contingent on regulatory approval. Fundación Nasser aims to continue the mission of enhancing higher education accessibility in Honduras, aligning with Laureate's values and objectives.
Laureate Education (NASDAQ: LAUR) announced a cash tender offer to buy up to $300 million of its 8.250% Senior Notes due 2025. The offer stems from the company's recent asset sales in Chile and Malaysia. It will expire on November 10, 2020, unless extended. The sales qualify as 'Asset Sales' under the indenture of the Notes. If tenders exceed the Offer Amount, purchases will be on a pro rata basis. This offer is strictly governed by the Offer Documents, which contain important details for noteholders.
Laureate Education has finalized the sale of INTI Education Holdings Sdn. Bhd. to HOPE Education Group for a total transaction value of US$140 million. The net proceeds for Laureate are estimated at US$120 million following a payment of US$14 million to a minority equity stakeholder. This strategic move aligns with Laureate's commitment to impacting communities through education. Eilif Serck-Hanssen, CEO, expressed hope for INTI's continued success under new ownership. Rothschild & Co and DLA Piper provided financial and legal advisory services, respectively.
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.
On September 13, 2020, Laureate Education (NASDAQ: LAUR) announced an agreement to sell its Brazilian operations to Ser Educacional S.A. for approximately R$3.862 billion (US$724 million), including debt assumption. The company will receive R$1.70 billion in cash and shares amounting to about 44% of Ser Educacional. This divestiture is part of Laureate's strategy to unlock shareholder value, following similar sales in Chile and the U.S. The transaction is subject to regulatory approval and includes a 30-day 'go-shop' period for alternative offers.
Laureate Education (NASDAQ: LAUR) announced on Sept. 11, 2020, the completion of its divestiture of operations in Chile. Control of its not-for-profit institutions has been transferred to Fundación Educación y Cultura, while the for-profit institutions, including Instituto Profesional AIEP, were sold for USD$214.6 million. Laureate's CEO, Eilif Serck-Hanssen, emphasized that this decision aligns with local educational needs and regulations. The divestiture marks a significant strategic move after 20 years of investment in Chilean higher education.
