12 December 2018 – El Confidencial
The fund Permira has purchased a portfolio of institutions in Spain and Portugal from the company Laureate Education, which owns the Universidad Europea de Madrid and is a specialist in the university sector, for €770 million.
In a statement, both parties detailed that, in addition to the Madrilenian branch, the transaction includes the campus of the Universidad Europea in Valencia and the Universidad Europa de Canarias, both in Spain, as well as the Portuguese Universidade Europeia in Portugal and the Portuguese Institute of Marketing Administration.
The most senior executive of Laureate, Eilif Serck-Hanssen, said that he feels “very proud of our institutions in Spain and Portugal and of what they have achieved”. Moreover, he considers that under the umbrella of the fund Permira “they will be well positioned and supported” to continue offering high satisfaction to students.
The head of Permira in Spain, Pedro López, said in a statement that these schools “will maintain their focus on high-quality education and on offering new and innovative educational experiences”.
The transaction is expected to be completed during the first half of 2019, although it is subject to approval by the competition authorities and educational agencies.
Original story: El Confidencial
Translation: Carmel Drake