May 15, 2017 / 8:10 PM / 10 months ago

Brazilian businessman buys stake in language training chain for $64 million

SAO PAULO, May 15 (Reuters) - Brazilian businessman Carlos Wizard Martins bought a 35-percent stake in English language training school chain Wise-Up for 200 million reais ($64.35 million), the company said in a statement on Monday.

With the acquisition, Martins returns to Brazil’s education sector after selling a language education chain he founded to Britain’s Pearson Plc three years ago, for 2 billion reais.

Since then, Martins acquired Brazilian health foods store chain Mundo Verde Ltda for an undisclosed value.

Wise-Up, which is controlled by Brazilian entrepreneur Flávio Augusto da Silva, operates 250 foreign language schools in Brazil and expects to reach 320 units by year-end. ($1 = 3.1080 reais) (Reporting by Tatiana Bautzer; Editing by Christian Plumb and Sandra Maler)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below