Cleary Gottlieb represented its longtime client TPG in a MAD 250 million investment for a minority stake in Ecoles Yassamine, an operator of private schools in Morocco. The transaction, which closed on October 6, represents TPG’s first investment in Africa, as well as its first investment in a school operator, and is the first investment to be made by the TPG/Satya partnership.
Ecoles Yassamine operates Morocco’s largest network of private schools. It educates approximately 6,000 students in six schools and plans to build and buy more Moroccan schools before expanding to other countries in Africa.