Laureate Education To Sell Morocco University to KMR Holding

CASABLANCA (Capital Markets in Africa) – Laureate Education, Inc. (NASDAQ:LAUR), the world’s largest global network of higher education institutions, and KMR Holding Pédagogique, the leading state-recognized multi-disciplinary private higher education platform in Francophone Africa, have signed an agreement for the sale of Laureate’s institution in Morocco – Université Internationale de Casablanca (UIC).

UIC, which opened its doors in 2010, is located in the economic and education hub of Morocco, and is the first and only comprehensive private university in Casablanca recognized by the State. UIC’s program offerings include undergraduate, graduate, and executive education programs in Business, Engineering and Health.

With over 7,500 students across Marrakech, Casablanca, and Dakar, KMR delivers programs in medicine, health sciences, engineering, management, and hospitality, among others. Development Partners International (DPI), a leading Pan-African private equity firm, with US$1.1 billion of assets under management is a principal shareholder of KMR Holding Pédagogique.

Commenting on the transaction, Eilif Serck-Hanssen, Chief Executive Officer of Laureate, said, “UIC was established in 2010, and within a span of 7 years was recognized by the State for its exceptional commitment to academic quality. We believe UIC will be well-positioned under KMR Holding Pédagogique, which has a strong presence in higher education in Francophone Africa, to continue delivering strong outcomes, internationality, and high student satisfaction.”

Commenting on the transaction, Mohamed Kabbadj, CEO of KMR, said, “KMR Holding Pédagogique is committed to building on the strong legacy of UIC, which is distinct in the market for creating industry-aligned programs which maximize student employability, with an emphasis on internationality and project-based learning. UIC has grown from strength to strength since its inception and we believe UIC’s offerings will be complemented through the network of KMR Holding Pédagogique across Francophone Africa, Europe, and North America.”

Macquarie Capital acted as exclusive financial advisor to Laureate Education, Inc., while Baker McKenzie acted as legal advisor. Naciri, Allen & Overy acted as legal advisor to KMR Holding Pédagogique, while Afaya Partners acted as strategic advisor.

Source: Bloomberg Business News