Endeavor To Sell Its Sports Education Institution IMG Academy For $1.25 Bln

(RTTNews) - Endeavor Group Holdings, Inc. (EDR), a sports and entertainment company, Tuesday said it has decided to sell its sports education institution, IMG Academy to BPEA EQT, in partnership with Nord Anglia Education in an all-cash deal valued at $1.25 billion.

As part of the transaction, the business is expected to partner with BPEA EQT's portfolio company Nord Anglia Education, which operates about 82 schools in 33 countries.

BPEA EQT is part of private equity firm, EQT, with core investments in education, healthcare, and technology across North America, Europe, and Asia-Pacific.

As part of this transaction, Brent Richard will continue as President of IMG Academy, the company said.