Abril Picks Up English School

Abril Picks Up English School

Brazil M&A

Abril Educacao, the education arm of Brazilian media conglomerate Grupo Abril, has acquired Brazilian English school Wise Up, it says, for BRL877m ($445m). The amount, subject to final adjustments, is to be paid in installments. Abril will pay BRL221m immediately, and BRL133m in year four and BRL133m in year five, acquiring 56.7% of Wise Up. This will be funded using a BRL280m 5-year revolver. The remaining 43.3% is to be paid through the issuance of 8.1m units of Abril, implying a BRL48.15 per

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