Apollo Global Enters Brazil with FAEL Acquisition
December 05 2014 - 7:00AM
Business Wire
Brazilian education provider expands Apollo
Education Group network
Apollo Education Group, Inc. (NASDAQ: APOL) announced its
wholly-owned subsidiary Apollo Global, Inc. closed on the
acquisition of a majority interest in Sociedade Técnica Educacional
da Lapa S.A., which offers educational programs under the name
Faculdade da Educacional da Lapa (“FAEL”). Apollo Global, through a
wholly-owned subsidiary, has acquired a 75 percent interest in the
company for approximately R$73.8 million (USD $28.9 million based
on current exchange rates).
“We are proud to welcome FAEL, a quality provider of
post-secondary education in Brazil, to our global learning
network,” said Greg Cappelli, Apollo Education
Group Chief Executive Officer. “Aligned with our
diversification strategy, our expansion into Brazil, one of the
most vibrant countries in the world supporting higher education,
advances our mission to serve adult learners and match student and
employer needs worldwide.”
“FAEL, through its innovative teaching methods, is helping
students throughout Brazil advance professionally,” said Curtis
Uehlein, Apollo Global President. “The addition of FAEL to Apollo
Global provides the opportunity to share best practices and expand
FAEL’s high quality programs, including their online
offerings.”
“We are pleased to join a strong network of world-class
institutions of higher education,” said Luiz Silveira, Founder and
CEO of FAEL. “We believe in the tremendous value of the partnership
and look forward to the benefit of being part of this global
organization, as well as the opportunity for FAEL to continue to
enrich our offerings.”
Apollo Education Group expects the transaction to be slightly
dilutive to its fiscal 2015 financial results and to be long-term
value accretive.
About Apollo Education Group,
Inc.
Apollo Education Group, Inc. is one of the world’s largest
private education providers and has been in the education business
since 1973. Through its subsidiaries: Apollo Global, Carnegie
Learning, College for Financial Planning, University of Phoenix,
and Western International University, Apollo Education Group offers
innovative and distinctive educational programs and services,
online and on-campus, at the undergraduate, master’s and doctoral
levels. Its educational programs and services are offered
throughout the United States and in Europe, Africa, Australia,
Latin America, and Asia, as well as online throughout the world.
For more information about Apollo Education Group, Inc. and its
subsidiaries, call (800) 990-APOL or visit www.apollo.edu.
About Apollo Global,
Inc.
Apollo Global was formed in 2007 to make investments primarily
in the international education services sector. Apollo Global
provides business and technology management, consulting and
training and operational services in the fields of higher education
and education administration to its network of schools. Apollo
Global is a wholly-owned subsidiary of Apollo Education Group. Its
education network includes BPP University in the United Kingdom,
Milpark Education in South Africa, Open Colleges Australia,
Universidad Latinoamericana in Mexico, Universidad de Artes,
Ciencias y Comunicación in Chile and Bridge School of Management in
India, developed through a joint venture with HT Media Limited, an
Indian media company.
About FAEL
FAEL was established in 1998 to allow access to knowledge and
quality education through innovative distance teaching methodology.
Located in Lapa, within the metropolitan area of the city of
Curitiba, in the state of Paraná, FAEL serves approximately 12,000
students and offers undergraduate and graduate programs online and
through one campus and 113 accredited undergraduate learning
centers covering all states in Brazil. FAEL is focused on providing
blended learning offerings in the top three high-demand knowledge
fields, including business, education, and technology.
Forward-Looking Statements Safe
Harbor
Statements about Apollo Education Group and its business in this
release which are not statements of historical fact, including
statements regarding Apollo Education Group’s future strategy and
plans and commentary regarding future results of operations and
prospects, are forward-looking statements and are subject to the
Safe Harbor provisions created by the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are based on
current information and expectations and involve a number of risks
and uncertainties. Actual plans implemented and actual results
achieved may differ materially from those set forth in or implied
by such statements due to various factors, including without
limitation, unexpected expenses or other challenges in integrating
the FAEL business into Apollo Global, consumer or regulatory impact
arising from consummation of the FAEL acquisition, and unexpected
changes or developments in the FAEL business. For a discussion of
the various factors that may cause actual plans implemented and
actual results achieved to differ materially from those set forth
in the forward-looking statements, please refer to the risk factors
and other disclosures contained in Apollo Education Group’s Form
10-K for fiscal year 2014 and subsequent quarterly reports on Form
10-Q, and other filings with the Securities and Exchange Commission
which are available at www.apollo.edu.
Apollo Education Group, Inc.Investor Relations:Beth
Coronelli, 312-660-2059beth.coronelli@apollo.eduorErin Kelly,
602-557-3830erin.kelly@apollo.eduorMedia:Ryan Rauzon,
916-599-2911ryan.rauzon@apollo.edu
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