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Report: PE firms move to 2nd round of EF Education First's Chinese unit auction

Hillhouse Capital, Warburg Pincus LLC and Permira Holdings LLP are among the shortlisted suitors for the second round of bidding for EF Education First Inc.'s Chinese business, Bloomberg News reported, citing people familiar with the matter.

Switzerland-based EF Education First has asked six parties to submit their bids for the business, which could fetch $1.5 billion to $2 billion in a sale, the sources said. The bids are due later in January, according to the report.

The company offers classroom-based and online English language training in Asia and Europe, as well as provide educational tours and cultural exchange programs, according to the report.

An EF Education representative told the news outlet that they do not comment on market speculation. Representatives for Permira and Warburg Pincus did not comment on the matter, while a Hillhouse representative did not immediately answer requests for comment.