IES acquiring English School of Asturias
Via newly incorporated joint venture International Education Partnership, S.L. (“IEP”), Internationella Engelska Skolan i Sverige Holdings II AB (“Internationella Engelska Skolan” or “IES”) is acquiring 99.43% of the shares of English School of Asturias. IEP is 50% owned by IES and 50% owned by IES’s collaborative partner in Spain, the Monzonis family.The enterprise value, EV, is EUR 16.0 m: The purchase consideration, which is being temporarily financed through a loan from IES, amounts to EUR 13.5 m, including school buildings valued at just over EUR 9 m. Asturias’ adjusted EBITDA for