Laureate to sell Brazilian operations for $724M as divestitures continue

Laureate Education Inc. announced Sunday it will sell its Brazilian operations for $724 million for a combination of cash and stock, the latest move in the company's ongoing overhaul. The sale includes 11 higher education institutions in Brazil that collectively enroll more than 267,000 students in technical, undergraduate and postgraduate programs. Baltimore-based Laureate will receive $321.8 million and about 101 million shares of Ser Educacional S.A., the Brazilian public company acquiring the institutions. Upon the closing of the transaction, expected to occur "toward the end of 2021," Laureate will own approximately 44% of the shares of Ser Educacional. (Balt Bus Journal)

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