Laureate Education says it’s not selling all its schools — for now – Baltimore Business Journal
Amid speculation about the company’s future, Laureate Education Inc. disclosed in its quarterly financial report Thursday that it plans to continue owning and operating its schools in Peru and Mexico.
The owner of for-profit colleges and universities has been selling off its institutions around the world over the past year as part of a process to explore “strategic alternatives” for its assets, raising questions about the Baltimore-based company’s long-term future.
Within the last 12 months Laureate has completed sales of its operations in Chile, Malaysia, Australia and New Zealand. The company is working on closing sales of Walden University, Laureate’s U.S.-based higher education institution, and operations in Brazil and Honduras. Those deals left Laureate with just its schools in Mexico and Peru.
Laureate said in a press release and quarterly financial filings that the company’s board decided to hold onto the Mexico and Peru businesses “after a thorough evaluation of all strategic options, including a potential sale.”
“The decision to focus on a regional operating model in Mexico and Peru at this time does not preclude further engagement with potential buyers for those businesses,” the company said. “Laureate does not intend to provide further interim updates unless and until it believes disclosure is appropriate.”