Laureate Education to sell Brazilian operations to Ser Educacional S.A. for R$3.862 billion
Clients Laureate Education, Inc.
Jones Day is acting as special tax counsel to Laureate International, Inc. in its entering into a definitive agreement with Ser Educacional S.A. for the sale of its Brazilian operations. The transaction value is approximately R$3.862 billion (US$724 million at the current exchange rate and share value), including the assumption of indebtedness, net of cash (which, as of June 30, 2020, was US$124.9 million). In the transaction, Laureate will receive R$1.70 billion in cash and 101,138,369 shares of Ser Educacional. Upon the closing of the transaction, Laureate will own approximately 44% of the shares of Ser Educacional, which will be subject to certain voting restrictions.