Kaplan Sells Dublin Business School to China Chunlai for $127.5M
GHC sits 31% above its 52-week low of $929.755 on light trading volume (0.2× avg).
Summary
Kaplan, a subsidiary of Graham Holdings, is selling Dublin Business School to China Chunlai Education Group for $127.5 million. The deal is subject to completion conditions and is expected to close once met. This divestiture follows Graham Holdings' strong Q2 results, where net income surged to $281.1 million, boosted by pension and investment gains. The sale aligns with Kaplan's strategy to optimize its portfolio, and the cash proceeds could further strengthen Graham Holdings' already robust balance sheet.
At the time of this announcement, GHC was trading at $1,215.60 on NYSE in the Trade & Services sector, with a market capitalization of approximately $5.1B. The 52-week trading range was $929.76 to $1,262.35. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.