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Allen & Overy Casablanca advises KMR in the acquisition of Laureate SOMED Education Holding

 

CASABLANCA - Allen & Overy (A&O) advised KMR Holding Pédagogique (KMR) in the acquisition through its wholly-owned subsidary  Université Privée de Marrakech Pédagogique (UPM) of 100% of the share capital of Laureate Somed Education Holding BV, whose ultimate shareholder is Laureate Education, Inc (Laureate) and Société Maroc Emirats de Développement (SOMED). The deal is pending the waiver of conditions precedents. Once it will be finalized, a transitional services agreement will be set in place.

Created 7 years ago, the UIC established its reputation as a strong academic player benefiting from State recognition. This change of leadership will provide more momentum for the growth of the institution as KMR is a leading state-recognized multi-disciplinary private higher education platform in Francophone Africa. It previously acquired another university in Morocco, UPM, and is planning on extending its network with more acquisitions in Africa. This strategy is supported by the private equity firm Development Partners International (DPI), one of the shareholders of KMR.

Laureate is one of the largest global network of higher education institutions, with more than one million students enrolled across nearly 70 institutions in 23 countries.
 
A&O team was led by partner Hicham Naciri, counsel Soumaya Essadaoui and associate Amine Kettani.
 
For further information, please contact Amal Ounir, Amal.Ounir@allenovery.com, on +212 520 478 052.
 
Notes for Editors:
1. Allen & Overy is an international legal practice with approximately 5500 people, including some 550 partners, working in more than 40 offices worldwide.
2. In this press release 'Allen & Overy' means Allen & Overy LLP and/or its affiliated undertakings.
3. The term 'partner' is used to refer to a member of Allen & Overy LLP or an employee or consultant with equivalent standing and qualifications or an individual with equivalent status in one of Allen & Overy LLP's affiliated undertakings.
 

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