GP Investments exits Brazil's Estácio Participações
SAO PAULO, Sept 20
SAO PAULO, Sept 20 (Reuters) - GP Investments Ltd sold its remaining stake in Brazilian education company Estácio Participações SA, the private equity firm said in a regulatory filing on Friday.
GP Investimentos sold its remaining 22,064,215 Estácio shares on Thursday for 17.61 reais each through the fund GPCP IV. Net proceeds from the sale were $56.5 million.
Brazil's $11 billion-a-year education industry has grown at double-digit percentage rates in recent years as a tight job market demands a skilled labor force with technical knowledge, stronger analytical abilities and language proficiency.
- Target says data from 40 million cards stolen in holiday period
- UPDATE 3-Saab wins Brazil jet deal after NSA spying sours Boeing bid
- Special Report: Why Ukraine spurned the EU and embraced Russia
- Facebook, Zuckerberg, banks must face IPO lawsuit: judge
- Zuckerberg to sell Facebook shares worth about $2.3 billion