Laureate Education To Sell Institutions In Italy And Cyprus For $263 Mln

(RTTNews) - Laureate Education Inc. (LAUR), and Galileo Global Education, a company under the umbrella of Providence Equity, a global asset management firm, have signed an agreement for the sale of Laureate's institutions in Italy and Cyprus for a total transaction value of 225 million euros or $263 million at the current exchange rate.

Nuova Accademia di Belle Arti Milano (NABA) and Domus Academy collectively make up one of the largest private fine arts academies in Milan, offering innovative market-aligned products augmented by deep industry immersion and partnerships.

European University Cyprus (EUC), which was established in 1961, is a leading fully comprehensive university with the first medical school and only accredited dentistry program in Cyprus. EUC offers unparalleled medical facilities and holds recognition by leading professional medical and healthcare associations.

Galileo is owned by Providence Equity Partners - one of the world's largest private equity firms and a leading global investor specializing in the media, communications, education and information industries.

The transaction is expected to occur in January 2018.