GUS Take Over The Reins Of Laureate Education' India Biz
According to the Securities and Exchange Commission (SEC) filing, the deal is completed at the value of 1100 Crore (approx).
Amsterdam-based Global University Systems (GUS) takes over the reins of Laureate Education India business including Pearl Academy of fashion, design and media and UPES, which offers courses across engineering, business and law disciplines.
According to the Securities and Exchange Commission (SEC) filing, the deal is completed at the value of 1100 Crore (approx). This is one of the largest buyout deals in the private education space.
According to a source, US-based Laureate was not been able to draw out the economic benefits of its business in India due to the complex business structure.
Pearl Academy and UPES are managed by not-for-profit education societies. The societies collect fees from the enrolled students of institutes, but cannot share the profit generated because of their not-for-profit status. UPES is run by Hydrocarbons Education & Research Society and Pearl Academy by Delhi-based Creative Arts Education Society.
GUS is an international network of higher education institutions with its presence in Europe, UK, Canada and South Asia, known to provide high standards of student experience and training across various fields.
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