IES simplifies ownership in Spain and sells holding in a joint venture owned school – capital gain of MSEK 25
Internationella Engelska Skolan i Sverige Holdings II AB (“Internationella Engelska Skolan” or “IES”) has sold all of its shares in a joint venture owned Spanish school, Colegio IALE in Valencia, to the coowners, the Monzonis family. IES owns 50% of the school and IES’s shareholding is being sold for MEUR 3.86 (enterprise value) and entails a capital gain of around MSEK 25 for IES. After the sale, the Monzonis family will own 100% of Colegio IALE. The sale is part of the simplification of the ownership of Spanish operations that began in summer 2018, when IES acquired the Monzonis family’