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Brazil’s Kroton sells Uniasselvi to Carlyle, Vinci for $285 mln: Reuters

Kroton Educational SA has sold distance learning college Uniasselvi to a group of investment firms for 1.105 billion reais ($285 million), underscoring growing demand for higher education centers in Latin America’s largest economy.

Under terms of the deal, unveiled in a statement on Monday, the investor group led by Carlyle Group LP, Vinci Partners and BRL Trust Investimentos will pay 400 million reais in cash, and another 450 million reais in five annual inflation-adjusted installments. Up to 255 million reais will be paid based on certain operational targets, the statement said.