baring-completes-leveraged-nord-anglia-deal

Baring completes leveraged Nord Anglia deal

The $360 million takeover of education firm Nord Anglia is supported by a debt package raised partly in Asia.
Baring Private Equity Asia has completed the takeover of Nord Anglia Education, which runs schools and provides learning services predominantly in Asia, for an equity value of ú190 million $360 million.

Baring made the successful bid for Nord Anglia via its wholly owned acquisition vehicle Premier BidCo on July 7, which was recommended by the board of Nord Anglia. Baring offered ú4.60 per share, representing a total equity value of ú190 million. The price was a 70.4% premium to the average closing price of Nord Anglia for the six months up to June 6, the day before Nord Anglia confirmed it had received an initial takeover proposal for the company, and a 48.8%...
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