AIF Capital Buying Stake in Chinese University

SINGAPORE (Reuters) – Private equity firm AIF Capital will buy a 10 percent stake in a Chinese university owned by Singapore-listed Raffles Education (RLSE.SI).The Hong Kong-based AIF will pay 350 million yuan ($51.28 million) for the stake in Oriental University City, which is located in China’s Hebei province and caters to around 36,000 students.

The price paid by AIF is higher than the 300 million yuan paid by Malaysian sovereign wealth fund Khazanah for a 10 percent stake in February. (Reporting by Kevin Lim; Editing by Saeed Azhar)