DeVry advances in Brazilian education sector

DeVry advances in Brazilian education sector

Brazil M&A

DeVry Education Group has agreed to buy a 96.4% stake in Grupo Ibmec Educacional for BRL699m ($178.4m), it said. Ibmec operates university campuses in Rio de Janeiro, Brasilia and Belo Horizonte.  The deal is the second acquisition in Brazil's highly-favored tertiary education industry this quarter. In October, three private equity funds agreed to buy Sociedade Educacional Leonardo da Vinci, a Brazilian distance learning college operator from Kroton Educacional for about BRL1.1bn ($282m). T

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