| Client: | Ekuiti Nasional Berhad (“Ekuinas”) Malaysian government linked private equity firm |
| Target: | Asia Pacific Institute of Information Technology (Pvt) Ltd (“APIIT Lanka”) The largest private university providing international degrees in Sri Lanka |
| Acquirer: | BG Investments A family office fund |
| Deal Size: | US$ 11m (Enterprise Value: US$ 11m) |
| Context: | Ekuinas acquired a controlling stake in APIIT Lanka in 2013, as part of strategy of building a portfolio of APIIT affiliated universities in Asia. In 2017, it ran a process to divest stakes in all APIIT affiliated universities. However, APIIT Lanka was carved out of the transaction due to international buyer requirements. In 2018, Ekuinas engaged Asia Securities to run a sale process for APIIT Lanka |
| Asia Securities’ Role: | Exclusive sell side advisor, managed all aspects of the transaction, including building a clear equity story, generating investor interest, leading negotiations and managing diligence. |
| Transaction Strategy | An international auction process that generated wide buyer interest due to strong investor sentiment in the sector |
| Transaction outcome | • Divestment of remaining stake in a timely manner • Price optimization |
