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Milbank LLP is advising the financing sources on the financing in connection with CVC Capital Partners’ acquisition of a 30% stake in GEMS Education. A refinancing was carried out as part of a larger transaction that saw CVC acquire a roughly 30% stake in GEMS Education, resulting in the exit of an investor group led by Fajr Capital, along with Blackstone and Mumtalakat. The financing is expected to include US$1.65 billion of term loans and senior secured notes.
GEMS Education is a global advisory and educational management firm, with a network of over 70 schools in over a dozen countries. The company also recently invested in a portfolio of 14 schools in Saudi Arabia and four schools in Egypt through joint ventures with Hassana, the Saudi Arabia Pension Fund, and EFG Hermes, respectively.
The Milbank team is led by European Leveraged Finance/Capital Markets partners Suhrud Mehta and Apostolos Gkoutzinis, with special counsel Miko Bradford and Trevor Truman, and associates Rahul Chatterji, Dimos Papanikolaou, Ken Ryan, David Waserstein, Philipp Engel and Chris Mooney, as well as NY-based partner Michael Bellucci and associate Jonathan Edwards.
