AIF Capital will take minority stake in Chinese university
AIF Capital will acquire a 10% stake in Oriental University City, an educational campus platform owned by Singapore-listed Raffles Education.
In the deal, AIF will pay RMB350 million ($51.3 million) for the stake in the university group, which has around 36,000 enrolled students. Founded in 2000, Oriental University City is located in the Langfang Development Zone in Langfang City, Hebei, with a campus area of 3.31 million sq m, and houses 14 leading universities and colleges. The investment follows an earlier commitment by Malaysian sovereign wealth fund Khazanah, which paid RMB300 million ($44 million) for the same percentage stake size that AIF is acquiring.
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