Apollo Global
Apollo Group has formed Apollo Global to manage and form subsidiaries, assets, and holdings overseas. As part of their first acquisitions, Apollo Global acquired Universidad de Artes, Ciencias y Comunicacion 'UNIACC' in Chile as well as the now defunct Meritus University in Canada.
Apollo Global is a joint venture between the Apollo Group and the Carlyle Group. The two partners invested $1 billion in Apollo Global. The Apollo Group invested roughly $801 million and owns 80.1% of the new company. Carlyle invested $199 million and controls the remaining shares. Apollo Global replaced Apollo International.
Apollo Global acquired BPP Professional Education (which includes BPP University College of Professional Studies) in the United Kingdom for $607 million in July 2009.
Western International University, formerly a direct subsidiary of the Apollo Group was transferred to Apollo Global in April 2010. The Apollo Group says that the transfer of Western International University to Apollo Global would allow it to offer its degrees internationally on a more successful basis. The transfer included a capital contribution from Apollo Global's minority shareholder, the Carlyle Group. Dr. Alan Drimmer, president of Western International University said, "We are looking forward to joining the global education network and leveraging the international expertise of both Apollo Global and Carlyle. We also look forward to the many collaboration opportunities with our sister-schools, all of which will help us achieve our mission of developing globally minded students."
Read more about this topic: Apollo Group
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