Laureate Education Inc - Ordinary Shares - Class A

+0.32 (+2.25%)
Divestitures / Spin-offs, Mergers / Acquisitions

Laureate Education Says To Sell Brazilian Operations To Ser Educacional

Published: 09/13/2020 22:14 GMT
Laureate Education Inc - Ordinary Shares - Class A (LAUR) - To Sell Brazilian Operations to Ser Educacional.
Entered Into a Definitive Agreement With Ser Educacional Sa for Sale of Its Brazilian Operations.
In Transaction, Laureate Will Receive R$1.70 Billion in Cash and 101,138,369 Shares of Ser Educacional.
Transaction Value is Approximately R$3.862 Billion Including Assumption of Indebtedness, Net of Cash.
Coill Own Approximately 44% of Shares of Ser Educacional, Which Will Be Subject to Certain Voting Restrictions.
In Connection With Transaction, Ser Educacional Will Seek to List American Depositary Shares (ads) on a U.S. Securities Exchange.
Transaction is Targeted to Close Toward End of 2021.