German media conglomerate Bertelsmann is expanding its footprint in Brazil’s education market, buying a major stake in Brazilian medical education and training company Afya.
Bertelsmann, which owns Penguin Random House, is acquiring a 25% stake and 46% of the voting rights in Afya, which Bertelsmann helped co-found, for the equivalent of €500 million.
Since Afya’s inception, Bertelsmann has indirectly held a stake in Afya through its investment in Crescera Educacional. In addition, Bertelsmann has had Daulins Emilio, the managing director at Bertelsmann Brazil Investments and head of the Bertelsmann Corporate Center in Brazil, as a representative on Afya’s board since 2019.
Daniel Borghi, co-chief executive of Crescera Capital, said: “Bertelsmann has been a partner with us in our investment in Afya since its inception. We are delighted that Afya will continue to benefit from one of the world’s leading media companies with a significant footprint in the education sector.”
Date published: 8 June 2021