Disclaimer :

The Competition DG makes the information provided by the notifying parties in section 4 of Short Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.

SECTION 4

Description of the concentration

The notification concerns the change from sole control by funds managed/advised by Providence Equity Partners LLC (U.S.) (“PEP”) (indirectly through PUK VII S.à r.l. (“PUK”), Luxembourg) to joint control by PEP (indirectly through PUK) and Wendel S.E. (France) (“Wendel”) (indirectly through Expansion 17 S.C.A., F. I. A. R. and Global Performance 17 S.C.A., F. I. A. R., Luxembourg, each ultimately controlled by Wendel) over PN VII Topco S.à r.l. (Luxembourg) (“Globeducate”) within the meaning of Articles 3(1)(b) and 3(4) of the Merger Regulation by a purchase of shares.

PUK’s and Globeducate’s (current) ultimate controlling entity is Providence Holdco International GP Ltd, Cayman Islands.

Post-Transaction, PEP and Wendel will own Globeducate’s share capital on a 50/50 basis (alongside Globeducate management’s residual shareholding.

Wendel is an investment firm headquartered in France, listed on the Euronext Paris stock exchange. Wendel focuses on investments in portfolio companies in Western Europe (particularly in France) and North America within sectors with long-term growth prospects, including compliance and certification services, speciality formulations for coatings and surface treatments, training services in specialised areas, consulting in digital transformation, project management and operational performance.

PEP is a global asset manager headquartered in the U.S. and is a specialist private equity investment firm that focuses on media, communications, education and technology investments, across North America and Europe.

Globeducate is a K-12 private education services provider headquartered in Spain, operating in Andorra, Canada, Cyprus, France, India, Italy, the Netherlands, Morocco, Portugal, Spain and the United Kingdom.

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