Singapore buyout firm KV Asia weighs Malaysian education unit sale: sources
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KV Asia Capital, the South-east Asia-focused private equity firm, is considering selling its Malaysian post-secondary education group, according to people with knowledge of the matter.
The buyout firm is working with a financial adviser on the potential sale of Asia Pacific Education Holdings, said the people, who asked not to be identified as the process is private. A deal could fetch about US$350 million for the group, they said.
Deliberations are ongoing, and KV Asia could decide not to proceed with a sale, the people said. A representative for KV Asia declined to comment.
Asia Pacific Education owns Asia-Pacific University of Technology & Innovation and Asia-Pacific Institute of Information Technology. They operate out of 2 campuses in Kuala Lumpur and currently have over 10,000 students, according to KV Asia's website. The private equity firm and company management acquired the education group from Malaysian state-backed buyout firm Ekuiti Nasional in 2018.
KV Asia is headquartered in Singapore and has offices in Malaysia and Indonesia. The firm has investments in sectors including consumer, health care, manufacturing and services. BLOOMBERG
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