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Laureate Education closes sale of Malaysian education institutes

Laureate Education Inc. on Sept. 29 said it completed the sale of INTI Education Group to HOPE Education Group (Hong Kong) Co. Ltd. for a total transaction value of $140 million.

INTI Education Group, which consists of INTI Education Holdings Sdn. Bhd. and its units, is a group of higher education institutes in Malaysia.

Laureate is estimated to receive about $120 million in net proceeds.

Rothschild & Co. was financial adviser to Laureate, and DLA Piper was legal adviser.

In January, Baltimore-based Laureate said its board was considering selling some business units. Since then, the company has either sold or agreed to sell certain businesses.

Most recently, Laureate agreed to sell Walden University to Adtalem Global Education Inc. for $1.48 billion and its Brazilian operations to education services provider Ser Educacional S.A. for about 3.86 billion Brazilian reais.

As of Sept. 29, US$1 was equivalent to 5.66 Brazilian reais.