Laureate Education, which owns and operates a global network of degree-granting higher education institutions under Laureate International Universities, announced the sale of INTI Education Group, a group of higher education institutions in Malaysia, to Hong Kong-based HOPE Education Group.
The US$140 million transaction, which includes a US$14 million payment to a minority equity shareholder, was successfully completed on 29 September. INTI will remain part of the Laureate network until the closing of the transaction, which is subject to customary closing conditions, including approval by Malaysian authorities.
DLA Piper advised on Laureate’s transaction, and Rothschild & Co acted as the financial adviser. The DLA Piper team was led by corporate partner Heng Loong Cheong with support from associates Andhari Sidharta and Karen Lee.
“DLA Piper is pleased to leverage our extensive experience of executing M&A deals in Malaysia, combined with our education sector expertise to assist Laureate Education during what has become a remarkably busy time for Asian M&A deals in the education sector,” said Cheong.
INTI Education Group was founded in 1986 and joined the Laureate International Universities network in 2008. It is one of the largest private higher education service providers in Malaysia, with more than 16,500 students in undergraduate and postgraduate degree programs in a university and five colleges.