SAO PAULO, Sept 20 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.