Laureate Education announced Friday that it will sell a group of five schools in Malaysia to Affinity Equity Partners, a private equity firm focused on the Asia Pacific.
The Baltimore-based operator of for-profit higher educational institutions will net $162 million from the $180 million sale of INTI University and Colleges. Laureate has a minority equity partner in the Malaysian schools that will receive the other $18 million.
With five campuses across Malaysia, INTI is serving 16,500 students this year, Laureate said.
The deal is expected to close by the end of the second quarter of 2018. Affinity plans to make the purchase through its Affinity Asia Pacific Fund IV.
Laureate has been selling universities recently from its network of nearly 70 schools in 25 countries, in part to pay down debt.
Trading in Laureate shares remained relatively flat, rising a penny by midday to $12.95 each.