Hope Education Group to acquire INTI Group of Universities and Colleges
03 March 2020
On 28 February 2020, Hope Education Group (Hong Kong) Company Limited (‘Hope’), a wholly-owned subsidiary of HKEX-listed Hope Education Group Co., Ltd., entered into an agreement with Exeter Street Holdings Sdn. Bhd. (‘Exeter’), a subsidiary of NASDAQ-listed Laureate Education, Inc. to acquire all the issued shares in Inti Education Holdings Sdn. Bhd. (‘IEHSB’) for a purchase price of USD 140 million.
IEHSB is the holding company for subsidiaries which own and operate amongst others, INTI International University, INTI International College Penang, INTI College Sabah, INTI College Nilai, INTI International College Subang and INTI International College Kuala Lumpur.
Completion of the acquisition of the IEHSB shares is subject to the fulfilment of the conditions precedent in the sale and purchase of shares agreement, which includes obtaining the approval of the Ministry of Education of Malaysia for the change in ownership of the IEHSB shares from Exeter to Hope.
Skrine represented Hope in the transaction. The team comprised of Partners Fariz Abdul Aziz and Sheba Gumis, Senior Associate Karyn Khor, and Associates Jeralyn Kan and Ann Marie Siaw.