Private Equity Fund Investments
Australia's IDP buys British Council's English testing service in India for $181-M
IDP Education Ltd, an Australian listed entity, has acquired the British Council's International English Language Testing System ( IELTS) business in India for GBP 130 million (approx USD 181 million). Under the deal, IDP will purchase 100% of the British Council's India IELTS business on a debt free, cash free basis. Existing British Council employees will join the IDP team when the deal completes in August. International law firm Simmons & Simmons and Indian law firm DSK Legal have jointly advised IDP.
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