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Article: Providence Equity Partners and Goldman Sachs Capital Partners Complete $3.4 Billion Acquisition of Education Management Corporation.
- Article from:
- PR Newswire
- Article date:
- June 1, 2006
CopyrightCOPYRIGHT 2006 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PITTSBURGH, June 1 /PRNewswire-FirstCall/ -- Education Management Corporation , a leading provider of post-secondary education, announced today that Providence Equity Partners and Goldman Sachs Capital Partners have completed their acquisition of the Company in a transaction valued at approximately $3.4 billion. Under the terms of the agreement, the Company's stockholders will receive $43.00 in cash for each share of EDMC common stock that they hold.
"We are very pleased that we were able to complete the acquisition of EDMC in such a timely manner," said John R. McKernan, Jr., the Company's Chief Executive Officer. "We look forward to working with our new owners ...