Anhanguera Goes Large in Uniban Buy

Anhanguera Goes Large in Uniban Buy

Brazil M&A

Brazilian secondary education company Anhanguera Educacional Partipacoes has agreed to acquire peer Uniban for BRL510m ($286m), a larger-than-usual acquisition that allows it to pick up what analysts call one of the last large university players. The BRL382.6m paid for operations and BRL128m for three real estate assets is “slightly expensive,” Itau says, but notes the “scale, strategic fit and synergies justify the price.” Anhanguera bid about BRL6,900 per student for the 55,000 students the de

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