Holland & Knight Advises on $87 Million Sale of Universidad Interamericana de Panamá
MIAMI (July 31, 2019) – Holland & Knight advised Laureate Education, Inc. (NASDAQ: LAUR) on its agreement with Universal Knowledge Systems Inc. and Global Education Services Inc. for the sale of Laureate's Universidad Interamericana de Panamá (UIP), a higher education institution in the Republic of Panama. The deal, which was announced on July 26, is valued at $86.75 million and includes the sale of certain campus real estate. The transaction is under review by the Panamanian government, but is expected to close later this year.
Laureate is the largest international network of degree-granting higher education institutions, with more than 850,000 students enrolled at over 25 institutions with more than 150 campuses.
UIP was founded in 1994 and has been a member of the Laureate network since 2008. The University serves 14,300 students enrolled in undergraduate, graduate and technical degree programs in a variety of academic disciplines, including health sciences, business, communications, engineering and information technology, law, and tourism and hospitality management.
The team advising Laureate included Partners Henry Roque, George Mencio and Marilyn J. Holifield and Associates Alexis Mason and María José Dobles Madrigal. The team coordinated with local counsel Icaza, González-Ruiz & Alemán and Alfaro, Ferrer & Ramirez.