BALTIMORE, March 02, 2020 (GLOBE NEWSWIRE) -- Laureate Education, Inc. (NASDAQ: LAUR) announced today that it has entered into an agreement with HOPE Education Group (Hong Kong) Company Limited for the sale of Laureate’s INTI Education Holdings Sdn. Bhd. and its subsidiaries (INTI Education Group), a group of higher education institutions in Malaysia.
Founded in 1986, INTI Education Group joined the Laureate International Universities network in 2008 and now serves more than 16,000 students enrolled in undergraduate and postgraduate degree programs in a variety of academic disciplines, including biotechnology and life sciences, business, communications, engineering, computing and information technology, law, and hospitality.
HOPE Education Group (Hong Kong) Company Limited is an established operator of higher education institutions, including universities and vocational colleges, and is looking forward to welcoming INTI Education Group into its network.
Commenting on the transaction, Eilif Serck-Hanssen, President and Chief Executive Officer of Laureate, said, “We’re proud of what INTI Education Group has achieved since joining the Laureate network in 2008. Together, we’ve provided students with a quality learning experience that helps make them highly employable in today’s global jobs market. Under the stewardship of HOPE Education Group (Hong Kong) Company Limited, I believe INTI will continue to deliver strong outcomes and high student satisfaction.”
The transaction value is US$140 million, which includes a US$14 million payment to a minority equity shareholder. INTI Education Group will remain part of the Laureate International Universities network until the closing of the transaction, which is subject to customary closing conditions, including approval by relevant Malaysian authorities.
Rothschild & Co acted as financial advisor to Laureate Education, Inc., and DLA Piper served as the Company’s transaction counsel.
About Laureate Education, Inc.
Laureate Education, Inc. has built the largest international portfolio of degree-granting higher education institutions, primarily focused in Latin America, with more than 850,000 students enrolled at over 25 institutions with more than 150 campuses, which we collectively refer to as the Laureate International Universities network. Laureate offers high-quality, undergraduate, graduate and specialized degree programs in a wide range of academic disciplines that provide attractive employment prospects. Laureate believes that when our students succeed, countries prosper and societies benefit.
