(Reuters) -Amsterdam-listed private equity firm CVC will acquire a 20% stake in International Schools Partnership (ISP), which owns private schools around the world, it said on Friday.
The stake purchase values ISP at 7 billion euros ($8.21 billion), according to a person familiar with the deal. ISP will remain majority owned by Swiss private equity firm Partners Group, the companies said.
ISP was founded in 2013 and educates more than 110,000 students in 111 schools across 25 countries. Partners Group and CVC said they plan to grow the company by adding more schools and developing new technologies to improve teaching.
Shares in CVC gained around 2% in early trading.
($1 = 0.8524 euros)
(Reporting by Leo Marchandon and Mateusz Rabiega, Editing by Helen Reid)
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