CVC sells Chinese education counsellor

The private equity firm has sold the Chinese education counsellor Education International Corporation instead of conducting an IPO.

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...

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