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UPDATE 1-Nord Anglia Education to be taken private by CPPIB, Baring

Published 2017-04-25, 08:27 a/m
© Reuters.  UPDATE 1-Nord Anglia Education to be taken private by CPPIB, Baring

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April 25 (Reuters) - Nord Anglia Education Inc NORD.N , a Hong Kong-based operator of international schools, said it would be taken private by Canada Pension Plan Investment Board (CPPIB) and Baring Private Equity Asia in a deal that values the company at $4.3 billion, including debt.

The cash offer of $32.50 per share represents a premium of 17.7 percent to Nord Anglia's Monday closing on the New York Stock Exchange. has a 67 percent stake in Nord Anglia, which operates 43 schools in 15 countries.

The deal includes a so-called go-shop period, during which Nord Anglia can evaluate proposals from other buyers for 30 days.

In March, CPPIB, along with Singapore wealth fund GIC and property owner Scion Group LLC, said their joint venture had bought three U.S. student housing portfolios for about $1.6 billion.

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