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KKR-backed EQuest takes controlling stake in Vietnam school operator

Khoi Nguyen Education runs bilingual schools in Southeast Asian nation

Vietnam's EQuest has so far consolidated about 20 schools, universities and training facilities under its umbrella. (Photo from EQuest website)

HANOI -- Vietnam-based education group EQuest, which is backed by private equity giant KKR, has acquired a controlling interest in Khoi Nguyen Education Group (KNE), according to an announcement.

The terms of the transaction were not disclosed. However, a source told DealStreetAsia that the investment values KNE at nearly $100 million. In addition, it was said that Excelsior Capital Vietnam Partners, which funded KNE last year, has exited the company.

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