Canada Pension Plan Investment Board (CPPIB) and funds affiliated with Baring Private Equity Asia have agreed to acquire and privatize Hong Kong-based Nord Anglia Education at a valuation of US$4.3 billion including assumption of debt, the firms announced today.
CPPIB and Baring, already majority shareholders of the education company with a combined 67% stake, plan to acquire all remaining outstanding shares of Nord Anglia Education and take the New York Stock Exchange-listed company private.
"This investment in Nord Anglia is an excellent fit with our strategy to build a diversified portfolio capable of delivering strong, sustainable returns to the Canada Pension Plan Fund over the long term," said Deborah Orida, Managing Director, Head of Private Equity Asia at CPPIB.
Nord Anglia, founded in 1972, operates 43 international school...
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