CVC Capital Partners said on Thursday it had sold Chinese education counsellor Education International Corporation EIC as more Chinese students enrol at overseas institutions.
CVC sold the firm to a consortium led by NLD Investment, a Chinese private equity fund, in partnership with the management and the founder of EIC. Financial details of the transaction were not disclosed.
CVC decided on a sale to another fund rather than conduct an IPO in Hong Kong.
EIC is China’s largest overseas educational counselling service provider, with a 13% national market share. Since its inception in 2000 EIC has placed over 120,000 students to overseas...