Private school that hosted presidential debate sold for Sh3.6b
The owners of Brookhouse School have sold the institution to Educas, a United Kingdom-based private equity fund, for Sh3.6 billion, making it one of the biggest transactions in Kenya’s high-end education sector.
The school was the venue of Kenya’s first ever presidential debates that featured eight candidates ahead of the 2013 general elections.
Among those who sold their interest are the school’s founder Piyush Mehta, who held a 25 per cent stake in the institution, and Victoria Bank, whose stake stood at 20 per cent.
Others include PE firm AfricInvest, which held the single largest interest of 30 per cent in the institution that offers the British curriculum to learners from rich and upper middle class households.
AfricInvest was part of a consortium of investors that acquired a combined 75 per cent stake in Brookhouse from the Mehta family in 2010.
SOURCE: Business Daily
