BPEP makes offer for Nord Anglia

Baring Asia Private Equity Fund IV, a vehicle managed by Asia, India, Russia and Spain-focused private equity firm Baring Private Equity Partners said it has agreed a 460p per share recommended cash offer for Nord Anglia Education, a UK training provider.

The offer values Nord Anglia Education at approximately £190m (US$376m) and represents a premium of 60.8% to the average closing price of 286p per share for the three months ended June 6.

Baring said that it expects to receive irrevocable undertakings and non-binding letters of intent to accept to the offer from approximately 19.82m Nord Anglia shares later today, representing 49.5% of the existing share capital of the listed business.