Laureate Education Announces Closing of Sale of its Australian and New Zealand Operations to Strategic Education, Inc.
Laureate Education, Inc. (NASDAQ: LAUR) has successfully closed the sale of its Australian and New Zealand operations, including Torrens University Australia and Think Education, to Strategic Education, Inc. (NASDAQ: STRA) for US$642.7 million.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Laureate Education, Inc. (NASDAQ: LAUR) has successfully closed the sale of its Australian and New Zealand operations, including Torrens University Australia and Think Education, to Strategic Education, Inc. (NASDAQ: STRA) for US$642.7 million. After adjustments, Laureate received approximately US$650 million post-transaction fees. CEO Eilif Serck-Hanssen expressed good wishes for the buyer and the institutions involved, highlighting the continued delivery of quality education. This strategic move directs Laureate's focus on enhancing its educational impact.
Positive
- Sale of Australian and New Zealand operations for US$642.7 million enhances liquidity, providing approximately US$650 million after adjustments.
- Streamlines operations, allowing Laureate to focus on core educational commitments.
Negative
- None.
Details
News Market Reaction – LAUR
The recorded move for LAUR in the trading session of this news was +9.46%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
BALTIMORE, Nov. 05, 2020 (GLOBE NEWSWIRE) -- Laureate Education, Inc. (NASDAQ: LAUR) today announced that it has closed the previously announced sale of its Australian and New Zealand operations (Torrens University Australia and Think Education in Australia and Media Design School in New Zealand) to Strategic Education, Inc. (NASDAQ: STRA).
Strategic Education, Inc. is an established operator of campus-based and online higher education institutions in the United States, including Capella and Strayer Universities.
The purchase price for the transaction was US
President and Chief Executive Officer of Laureate, Eilif Serck-Hanssen, said: “We wish Strategic Education and the three institutions well, as they continue to deliver quality student learning experiences with high employability and student satisfaction outcomes.”
About Laureate Education, Inc.
At Laureate Education, Inc., we understand the transformative power of education. For more than 20 years, we have remained committed to making a positive impact in the communities we serve, by providing accessible, high-quality undergraduate, graduate and specialized degree programs. We know that when our students succeed, countries prosper and societies benefit. Our longstanding commitment to operating with purpose is evidenced by our status as one of the world’s largest Certified B Corporations® and being the first Public Benefit Corporation publicly listed on any stock exchange in the world.
Investor Relations Contact:
ir@laureate.net
Media Contact:
Adam Smith
Laureate Education, Inc.
adam.smith@laureate.net
U.S.: +1 (443) 255 0724
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.