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

Author
Naciri Hicham
Hicham Naciri

Partner

Casablanca

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Essadaoui Soumaya
Soumaya Essadaoui

Counsel

Casablanca

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24 January 2018

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. 
 
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