KKR to Acquire Stake in Tarena as Part of $90.5M Deal
June 23, 2015
KKR has agreed to acquire a 13% stake in Tarena International (NASDAQ: TEDU) for $70 million. Founded in 2002, the company provides an education platform that combines live-distance instruction, classroom-based tutoring and online learning modules to students in China. KKR's investment comes as part of a greater aggregate transaction valued at $90.5 million, which includes the purchase of a 3.8% stake worth $20.5 million by Tarena's founder, chairman and CEO. The shares acquired are being purchased from existing shareholders Goldman Sachs and IDG Technology Venture Investments. The transaction is expected to close next month.