December 17, 2015 |
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).
Brazilian education industry remains in favor as US company takes controlling stake in university operator Ibmec Educacional