Baring Asia sells Singapore education business to ICG
Baring Private Equity Asia has exited its 100% stake in Singaporean tertiary education institution PSB Academy to Intermediate Capital Group (ICG) for an undisclosed sum.
The GP acquired the business in full for an undisclosed price in 2011. AVCJ Research’s records indicate the enterprise value at the time was about $58 million. PSB experienced growth during the Baring...
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