Mcgraw Hill education to be acquired by private equity group in US

McGraw-Hill Cos. (MHC) has agreed to sell McGraw-Hill Education to the private equity group Apollo Global Management for US$2.5 billion (A$1.96 billion), reports Publishers Weekly (PW). ‘MHC hopes to complete the deal before the end of the year or in early 2013,’ reports PW, adding that after the purchase is complete the education group ‘will be known as McGraw-Hill Education under the direction of Buzz Waterhouse who was named president and CEO in June’. Apollo senior partner Larry Berg said his company looked forward to ‘leveraging the company’s leading portfolio of trusted brands and innovative digital learning solutions to drive growth through the ongoing convergence of education and technology on a global basis’.

Category: International news