SINGAPORE : U.S. private equity firm TPG is in advanced talks to buy Malaysian private education assets owned by regional buyout firm KV Asia Capital in a deal that could be worth more than $300 million, three sources with knowledge of the matter told Reuters.An agreement could be struck as early as the
SINGAPORE : U.S. private equity firm TPG is in advanced talks to buy Malaysian private education assets owned by regional buyout firm KV Asia Capital in a deal that could be worth more than $300 million, three sources with knowledge of the matter told Reuters.TPG, which has $135 billion of assets under management globally, has been expanding in Southeast Asia in recent years, including in Malaysia.
The sale of Advent International's stake in Singaporean tuition chain The Learning Lab has garnered interest from private equity firms including PAG and Platinum Equity, Reuters reported in November. Asia Pacific University of Technology & Innovation and Asia Pacific Institute of Information Technology operate out of two campuses and have more than 10,000 students, according to KV Asia's website.
That deal was based on an enterprise value of 725 million ringgit, but it included primary and secondary school operator Asia Pacific Schools, which was sold a year later for an undisclosed price.
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