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PRINT THIS PAGE Baring Private Equity Asia's new £190m offer for Nord Anglia succeeds08/07/2008. Source: AltAssets. 
Baring Private Equity Asia has agreed to acquire education and training provider Nord Anglia in a deal worth approximately £190m. Baring previously had a £180m offer rejected by the company. Baring's newly formed vehicle Premier BidCo will acquire all Nord Anglia shares for £4.60 per share, a premium of 60.8 per cent to the average closing price of £2.86 for the three months ending 6 June 2008, the business day prior to the date of Nord Anglia's announcement that it had received an approach regarding a possible offer, according to a statement.
Nord Anglia directors plan to unanimously recommend the offer to company shareholders.
The company consists of two divisions, the Learning Services Division, which works in partnership with local government, schools and other public sector organisations to provide education and training in the UK and overseas; and the International Schools Division, which operates schools in Central Europe and the Far East.
Baring will make the investment from its Baring Asia Private Equity Fund IV, a $1.5bn fund. The firm specialises in growth equity investments and mid-market buy-outs targeting businesses with enterprise values of between $100m and $500m that require capital for expansion, recapitalisation or for mergers and acquisitions.
The firm's investment markets include China, India, Japan, Singapore, Hong Kong, South Korea and Taiwan.
Copyright © 2008 AltAssets
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