TPG to buy TSL Education for 400 mln stg - sources

LONDON, July 8 Mon Jul 8, 2013 5:41am EDT

LONDON, July 8 (Reuters) - U.S. private equity firm TPG is buying TSL Education, publisher of the Times Educational Supplement, from European private equity firm Charterhouse in a deal worth 400 million pounds ($595.30 million), two sources familiar with the matter said on Monday.

Charterhouse has owned TSL, which claims to have the largest network of teachers in the world, since 2007. TPG and Charterhouse both declined to comment.

The deal, first reported by Sky News, is set to be announced later on Monday.

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