Laureate Completes Merger with Private Investor Group

Laureate Completes Merger with Private Investor Group Back to Press Releases

Laureate Completes Merger with Private Investor Group

August 17, 2007

Laureate Completes Merger with Private Investor Group

Company Ceases Trading on NASDAQ

Baltimore, Md., August 17, 2007 — Laureate Education, Inc., the world’s leading international provider of higher education, announced today the completion of its merger with L Curve Sub Inc., completing its acquisition by a private investor group led by Douglas L. Becker, Laureate’s Chairman and Chief Executive Officer. The group includes Kohlberg Kravis Roberts & Co., Citi Private Equity, S.A.C. Capital Management, LLC, SPG Partners, Bregal Investments, Caisse de dépôt et placement du Québec, Sterling Capital, Makena Capital, Torreal S.A., Brenthurst Funds, Vulcan Capital, and others.

Laureate Education, Inc. announced on June 4, 2007 its execution of an amended and restated merger agreement with the investor group which called for Laureate shareholders to receive $62.00 in cash, without interest, for each share of Laureate common stock held. The total transaction is valued at approximately $3.82 billion.

Laureate common stock will cease trading on NASDAQ at market close on August 17, 2007, and will no longer be listed.

Shareholders of Laureate who are the holders of record of Laureate stock certificates will receive instructions and a letter of transmittal by mail from American Stock Transfer & Trust Company, the disbursing agent, concerning how and where to forward their certificates for payment. For shares held in “street name” by a broker, bank or other nominee shareholders will not need to take any action to have shares converted into cash, as this will be done by the broker, bank or other nominee. Questions about the deposit of merger proceeds should be directed to the appropriate broker, bank or other nominee.

About Laureate Education, Inc.
Laureate Education, Inc. is focused on providing a superior university experience to over 262,000 students through the leading global network of accredited campus-based and online universities. Addressing the rapidly growing global demand for higher education, Laureate offers a broad range of career-oriented undergraduate and graduate programs through campus-based universities located in Latin America, Europe, and Asia. Through online universities, Laureate offers the growing population of non-traditional, working-adult students the convenience and flexibility of distance learning to pursue undergraduate, master’s and doctorate degree programs in major career fields including engineering, education, business, and healthcare. For more information, please visit our website, www.laureate-inc.com

Laureate Education Contacts:
Rosemarie Mecca
Chief Financial Officer
(410) 843-8070

Jill Cantor Nord
Assistant General Counsel
(410) 843-6296

Investor Group Contacts:
Ruth Pachman/Molly Morse
Kekst and Company
(212) 521-4891/(212) 521-4826
ruth-pachman@kekst.com/molly-morse@kekst.com

Download PDF

Back to Press Releases

Media Contacts

Americas

Kristi Huller
Miles Radcliffe-Trenner

Julia Kosygina
Telephone: +1 (212) 750-8300

Email: media@kkr.com

EMEA

Annabel Arthur
Telephone: +44 20 7839 9800

Email: kkrpr-uk@kkr.com

Asia-Pacific

Anita Davis

Wei Jun Ong
Telephone: +852 3602 7335

Email: media@kkr.com

Investor Relations

‍Craig Larson
Telephone: +1 (877) 610-4910
Outside US: +1 (212) 230-9410
Facsimile: +1 (212) 750-0003
Email: Investor-Relations@kkr.com

Listen to webcast

This presentation contains certain forward-looking statements pertaining to KKR & Co. Inc. and its consolidated subsidiaries (collectively “KKR”), including certain investment funds, vehicles and accounts that are managed by KKR (each, a “fund”). Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. The forward-looking statements are based on KKR’s beliefs, assumptions and expectations of its future performance, taking into account all information currently available to it. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to KKR or are within its control. If a change occurs, KKR’s business, financial condition, liquidity and results of operations, including but not limited to, assets under management, fee paying assets under management, after-tax distributable earnings, capital invested, syndicated capital, uncalled commitments, cash and short-term investments, fee related earnings, fee and yield segment EBITDA, core interest expense and book value, may vary materially from those expressed in the forward-looking statements. The following factors, among others, could cause actual results to vary from the forward-looking statements: whether KKR realizes all or any of the anticipated benefits from converting to a corporation and the timing of realizing such benefits; whether there are increased or unforeseen costs associated with the conversion, including any adverse change in tax law; the volatility of the capital markets; the general volatility of the capital markets; failure to realize the benefits of or changes in KKR’s business strategies including the ability to realize the anticipated synergies from acquisitions or strategic partnerships or other transactions; availability, terms and deployment of capital; availability of qualified personnel and expense of recruiting and retaining such personnel; changes in the asset management industry, interest rates or the general economy; underperformance of KKR's investments and decreased ability to raise funds; and the degree and nature of KKR’s competition. All forward-looking statements speak only as of the date they are made. KKR does not undertake any obligation to update any forward-looking statements to reflect circumstances or events that occur after the date on which such statements were made except as required by law. In addition, KKR’s business strategy is focused on the long-term and financial results are subject to significant volatility.

Additional information about factors affecting KKR, including a description of risks that may be important to a decision to purchase or sell any common or preferred stock of KKR & Co. Inc., can be found in KKR & Co. Inc.’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and its other filings with the SEC, which are available at www.sec.gov.