Adtalem Global offloads its Brazilian unit

• Adtalem Global Education (NYSE:ATGE +1.1%) agrees to sell its Brazilian portfolio, Adtalem Educacional do Brasil, to YDUQS,  for R$1.92B, equivalent to ~$465M
• IBMEC, Damásio and Wyden will retain and continue to operate under their current brands.
• The divestiture streamlines Adtalem Global’s portfolio and enhances focus on opportunities in Medical & Healthcare and Financial Services markets
• The transaction is expected to close by 1H 2021, and ATGE intends to use the sale proceeds for share repurchases and investments.

• Adtalem’s Brazil assets, which make up all of Adtalem’s Business & Law segment, contributed $225.8M in revenue in FY 2019.