Laureate Education uses $132.5 million from share purchase agreement to repay 2024 term loan

By Rebecca Melvin

New York, May 13 – Laureate Education Inc. will use proceeds of about $132.5 million from the sale of assets to repay debt under its 2024 term loan, according to a company news release.

Under a share purchase agreement, the company and subsidiaries sold all of the shares of Pearl Retail Solutions Private Ltd., an India corporation, for $145.6 million. Ten percent of the proceeds, or $13.1 million, went to minority owners.

The transaction closed on May 9.

Laureate is a Baltimore-based network of degree-granting higher education institutions.

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