Laureate Education, the world’s largest global network of higher education institutions, has signed an agreement with a company backed by the Permira funds, for the sale of Laureate’s institutions in Spain and Portugal, contingent on the receipt of all necessary regulatory and accreditation approvals. The institutions included in this agreement are Universidad Europea de Madrid, Universidad Europea de Valencia, Universidad Europea de Canarias, Universidade Europeia in Portugal, and Instituto Portugues de Administracao de Marketing in Portugal. The transaction value is €770m ($871m). “These institutions have great brand recognition and offer a strong value proposition to students across a variety of disciplines. Under the ownership of the Permira funds, these institutions will maintain their focus on delivering high quality education, providing new and innovative learning experiences. The funds will continue to invest in their physical campuses and reinforce their online offering to meet the evolving needs of their student population. We look forward to working with management and academics, leveraging our global resources, local knowledge and expertise to help these universities execute on their growth plans and continue providing students with a world-class academic experience.” Pedro Lopez, Permira Head of Spain.