University Of Phoenix Parent Company To Be Taken Private For $1.1 Billion.

Lerner · Feb 15, 2016

University of Phoenix Parent Apollo Education to Be Taken Private - WSJ

University Of Phoenix Parent Company To Be Taken Private For $1.1 Billion.
The Wall Street Journal (2/8, Korn, Jamerson, Subscription Publication) reports that Apollo Global Management will purchase Apollo Education Group, owner of the University of Phoenix, for $1.1 billion. Apollo has been expanding its offerings overseas, which is considered an easier regulatory environment in which to operate. The deal would have to be approved by the federal Education Department and the University of Phoenix’s accreditor. The company’s stock was valued at over $14 billion in 2009.
The New York Times (2/8, Cohen, Bray, Subscription Publication) reports that Vistria Group, one of the parties to the deal, has “close ties to the Obama administration,” as it was founded by “Marty Nesbitt, one of President Obama’s closest friends and the chairman of the Obama Foundation,” as well as “a longtime business partner of Penny Pritzker, the commerce secretary.” Vistria’s chief operating officer, Tony Miller, deputy secretary of education from 2009 to 2013, is set to be “the new chairman” of Apollo Education Group.
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airtorn · Feb 15, 2016

http://www.degreeinfo.com/general-distance-learning-discussions/52033-university-phoenix-owner-sold-amid-shrinking-enrollment.html

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University Of Phoenix Parent Company To Be Taken Private For $1.1 Billion.

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University Of Phoenix Parent Company To Be Taken Private For $1.1 Billion.

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