18th Sep 2008 10:13
News Release
Guernsey, 18 September 2008
Princess partnership Baring Private Equity Asia takes over Nord Anglia
The Princess partnership Baring Private Equity Asia has agreed to acquire Nord Anglia Education, which runs schools and provides learning services predominantly in Asia, in a deal worth approximately USD 360 million. The takeover is supported by a debt package raised partly in Asia. Nord Anglia has two divisions: learning services and nine international schools located in China, Korea and Eastern Europe. Baring's growth plan for Nord Anglia is to roll out further school campuses across existing and new markets in Asia and expand the learning services footprint in new markets, particularly in the Middle East.
Philipp Gysler, Head Asia at Princess' investment advisor Partners Group, comments: "Partners Group intends to further increase Princess' overall exposure to the Asian region due to its higher resilience to global financial market dislocations and the more favorable purchase multiples it offers in comparison to Western economies. Additionally, as the Nord Anglia transaction exemplifies, private equity deals in Asia are much less dependent on the established syndicated loan markets and have access to new financing routes in the Asian markets themselves. On the back of Asia's trend of sustained economic growth and stable macroeconomic fundamentals, investments in the region are expected to contribute to the portfolio's diversification and stability."
About Princess
Princess is an investment holding company founded in 1999 and domiciled in Guernsey that invests in private equity and private debt investments. The Company is advised in its investment activities by Partners Group AG, a global alternative asset management firm listed on the SWX Swiss Exchange (ticker symbol: PGHN) with over CHF 25 billion assets under management in private equity, private debt, private real estate, private infrastructure, absolute return strategies and listed alternatives. Princess aims to provide shareholders with long-term capital growth and an attractive dividend yield. Princess is traded on the Frankfurt Stock Exchange (ticker symbol: PEY1) and on the London Stock Exchange (ticker symbol: PEY). Further information: www.princess-privateequity.net
Contacts
Princess Private Equity Holding Limited:
Ken Ball
General Manager
Phone: +44 1481 730 946
princess@princess-privateequity.net
www.princess-privateequity.net
Registered Number: 35241
Media enquiries:
Partners Group AG
Tamara Krebs
Communications
Tel.: +41 41 768 85 26
www.partnersgroup.net
This document does not constitute an offer to sell or a solicitation of an offer to buy or subscribe for any securities and neither is it intended to be an investment advertisement or sales instrument of Princess Private Equity Holding Limited. The distribution of this document may be restricted by law in certain jurisdictions. Persons into whose possession this document comes must inform themselves about, and observe any such restrictions on the distribution of this document. In particular, this document and the information contained therein is not for distribution or publication, neither directly nor indirectly, in or into the United States of America, Canada, Australia or Japan.
This document may have been prepared using financial information contained in the books and records of the product described herein as of the reporting date. This information is believed to be accurate but has not been audited by any third party. This document may describe past performance, which may not be indicative of future results. No liability is accepted for any actions taken on the basis of the information provided in this document.
Approved by Partners Group (UK) Ltd., authorised and regulated by the Financial Services Authority in the United Kingdom.
Related Shares:
Partners Grp E