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Exclusive: College of Law: bidders revealed

Pearson is slugging it out for the College of Law deal with with as many as seven other bidders, EducationInvestor understands.
The private college is considering bids from Palamon Capital Partners and Providence Equity Partners, as well as the giant education firm.
Other bidders include a coalition of Sovereign Capital and Exponent Private Equity; New York-based Leeds Equity Partners; and another US private equity fund focusing on the education sector.
In all, market sources say, eight bids have gone through to the second round.
The College of Law, which received its royal charter in 1975, is currently a charity. But at the beginning of September it announced a strategic review, with a view to a potential sale.
Its degree awarding powers and portfolio of city centre real estate are thought to make it attractive to investors seeking to build a rival to for-profit professional training firm BPP.
The college is expected to fetch at least £175 million, but some put the likely value of any sale as high as £250 million.
Corporate financiers Hawkpoint are advising on the deal.

Posted on: 23/11/2011

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