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National and global firm share the spoils

National and global firm share the spoils

Johnson Winter & Slattery and K&L Gates shared the deal table on an online education deal.

Firms: Johnson Winter & Slattery (Apollo Global); K&L Gates (Open Colleges Australia)

Deal: Apollo takes a controlling interest in Open Colleges

Value: $110-$162.5 million

Area: M&A

Key Players: The JWS team was led by the ex-corrs partner Jeremy Davis (pictured). Sydney-based capital markets specialist Jeremy Lyons was the lead partner on the K&L Gates side.

Deal Significance: Open Colleges is Australia's largest private distance education provider, offering over 130 courses. Apollo has agreed to purchase 70 per cent of the shares of Open Colleges for about $110.5 million, plus contingent of just over $50 million which will primarily be based on 2014 operating results. Apollo, whose stable of educational facilities covers Europe, South America and India, has the option to purchase the remaining 30 per cent of Open Colleges. “This is an exciting outcome for our client, who is now aligned to a global leader in delivering education programs,” said Lyons. “The alliance will enable Open Colleges to tap into the expertise and resources of one of the world's largest private education providers.”


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National and global firm share the spoils
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