Chinese agency EIC bought for reported $692m

Financial details of the deal have not been disclosed, though Reutersreported that a source “with direct knowledge of the deal” said it had generated $692m for previous investors CVC Capital Partners. In 2014, the agency sent some 18,500 Chinese students overseas to study Luxembourg-based CVC acquired a majority stake in EIC in 2013 for a reported $200m, buying shares from Actis Capital and EIC’s founder, Joe Li. It appears to have therefore more than tripled its investment in the deal, which was led by China-based NLD Investment LLP, in partnership with Li and other management. EIC has organised study abroad placements for…

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