Gernandt & Danielsson advises Providence Education International AB in connection with a public cash offer
Gernandt & Danielsson advises Providence Education International AB (”Providence Education International”), an entity controlled by a fund managed by Providence Equity Partners L.L.C. (”Providence”), in connection with a public cash offer to all shareholders in AcadeMedia AB (publ) (”AcadeMedia”) which was announced on April 22, 2010. Providence Education International offers SEK 170 for each share in AcadeMedia and the total value of the offer amounts to approximately SEK 2,050 million. The bid committee, appointed by AcadeMedia, recommends the offer.
AcadeMedia is the largest private educational company in Sweden, offering educational services within the preschool, compulsory school, upper secondary school and adult education segments. AcadeMedia has approximately 45,000 students and participants as well as approximately 2,500 employees attending about 150 units located all across Sweden. AcadeMedia’s shares are listed on NASDAQ OMX, Small Cap.
Providence is the leading global private equity firm specialized in investing in privately held companies within the media, communications, information and education services industries. Providence manages funds with over USD 22 billion of equity commitments.
G&D’s team consists of Dick Lundqvist (leading partner), the partners Marcus Johansson (financing) and Andreas Holmqvist (employment), Krister Skoog, Corinne Ekman, Gustav Skogö and Johanna Kjellqvist, Joakim Brännström (environment), Rolf Larsson (competition), Pär Johansson, Omar Berger, Sara Brunström and Leo Lee.