Laureate Education Announces Closing of Sale of INTI Education Group to HOPE Education Group
05 October 2020
NASDAQ-listed Laureate Education, Inc. announced on 29 September 2020 that it has closed the previously announced sale of INTI Education Holdings Sdn. Bhd. (‘IEHSB’) which was owned by its subsidiary Exeter Street Holdings Sdn. Bhd. (‘Exeter’) and a minority shareholder to HOPE Education Group (Hong Kong) Company Limited (‘Hope’), a wholly-owned subsidiary of HKEX-listed Hope Education Group Co., Ltd., after approval of the Ministry of Education of Malaysia for the change in ownership of the IEHSB shares from Exeter to Hope had been obtained. The total transaction value was 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.
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.