Global investment firm Permira completed the acquisition of 60% stake in EF Kids & Teens, a premium English language education unit of EF Education First, an international education company, for $1.2bn. "EF Kids & Teens is a gem in the EF portfolio. With Permira, we have a dedicated partner investing with us to meet the enormous market opportunity. We look forward to growing EF Kids & Teens’ investments in academics and technology and expanding our leading educational programs for the Chinese market. Our long-term commitment to China remains unchanged and we will continue to operate our other businesses, adults education and study abroad programs, as usual," Philip Hult, EF Education First Chairman.