Brazil's Estácio agrees to buy college in Piaui for $12.8 mln

martes 18 de noviembre de 2014 16:50 GYT
 

RIO DE JANEIRO Nov 18 (Reuters) - Brazilian university operator Estácio Participações SA agreed to buy Centro de Ensino Unificado de Teresina (Ceut) for 33 million reais ($12.8 million), Estácio said in a securities filing on Tuesday.

Ceut, which is located in the northeastern state of Piauí, has 3,700 students. With the acquisition, Estácio will be present in all 27 Brazilian states, according to the filing.

Estácio is one of the largest companies in Brazil's thriving $11 billion-a-year education industry, which has grown at double-digit rates in recent years as a tight job market demands a more skilled and educated labor force. ($1 = 2.582 Brazilian reais) (Reporting by Juliana Schincariol; Writing by Silvio Cascione; editing by Matthew Lewis)