Company Ceases Trading on NASDAQ
BALTIMORE, Aug. 17 /PRNewswire-FirstCall/ -- Laureate Education, Inc., the
world's leading international provider of higher education, announced today
the completion of its merger with L Curve Sub Inc., completing its acquisition
by a private investor group led by Douglas L. Becker, Laureate's Chairman and
Chief Executive Officer. The group includes Kohlberg Kravis Roberts & Co.,
Citi Private Equity, S.A.C. Capital Management, LLC, SPG Partners, Bregal
Investments, Caisse de depot et placement du Quebec, Sterling Capital, Makena
Capital, Torreal S.A., Brenthurst Funds, Vulcan Capital, and others.
Laureate Education, Inc. announced on June 4, 2007 its execution of an
amended and restated merger agreement with the investor group which called for
Laureate shareholders to receive $62.00 in cash, without interest, for each
share of Laureate common stock held. The total transaction is valued at
approximately $3.82 billion.
Laureate common stock will cease trading on NASDAQ at market close on
August 17, 2007, and will no longer be listed.
Shareholders of Laureate who are the holders of record of Laureate stock
certificates will receive instructions and a letter of transmittal by mail
from American Stock Transfer & Trust Company, the disbursing agent, concerning
how and where to forward their certificates for payment. For shares held in
"street name" by a broker, bank or other nominee shareholders will not need to
take any action to have shares converted into cash, as this will be done by
the broker, bank or other nominee. Questions about the deposit of merger
proceeds should be directed to the appropriate broker, bank or other nominee.
About Laureate Education, Inc.
Laureate Education, Inc. is focused on providing a superior university
experience to over 262,000 students through the leading global network of
accredited campus-based and online universities. Addressing the rapidly
growing global demand for higher education, Laureate offers a broad range of
career-oriented undergraduate and graduate programs through campus-based
universities located in Latin America, Europe, and Asia. Through online
universities, Laureate offers the growing population of non-traditional,
working-adult students the convenience and flexibility of distance learning to
pursue undergraduate, master's and doctorate degree programs in major career
fields including engineering, education, business, and healthcare. For more
information, please visit our website, http://www.laureate-inc.com.