In a statement, Ekuinas chief executive officer (CEO) Syed Yasir Arafat Syed Abdul Kadir (pic) said:
PETALING JAYA: Ekuiti Nasional Bhd (Ekuinas), the government-linked private equity (PE) fund management company, has divested its entire equity interest in Tenby Education Group to International Schools Partnership (ISP), generating a positive internal rate of return (IRR) of 45.7% and money multiples of 2.5 times the capital invested, including dividends received.
Ekuinas first bought into Tenby in March 2015, when it acquired a 70% stake in the education group for RM70mil. The following year, it fully acquired the remaining 30% stake for RM35.2mil from its founder Datuk Lim Si Boon.
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