Career Education Reaps $305M In Euro Biz Sale

Law360, New York (October 25, 2013, 5:28 PM EDT) -- Career Education Corp. will sell its European education business to private equity firm Apax Partners for $305 million, topping its market cap by $50 million, the company announced Thursday.

Career Education is shedding assets like the Paris-based INSEEC business school and the multisubject International University of Monaco in order to focus on its U.S. education business, and hopes to use the cash revenue from the sale to fuel domestic growth. Career Education's stock value jumped by more than 57 percent the day after its announcement.

"Redeploying capital...
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