The Carlyle Group buys shares in school chain

Tuesday, October 4, 2011
http://www.hurriyetdailynews.com/n.php?n=carlyle-buys-shares-in-school-chain-2011-10-04

The Carlyle Group, a private U.S. capital fund, has applied to the Turkish Competition Board to acquire more than 50 percent of the shares of the Bahçeşehir and Beşiktaş private schools – from primary to high school education – daily Sabah reported Tuesday.

The group’s Turkey general manager, Can Deldağ, said the percentage could be subject to change in the future because Bahçeşehir College had schools in 20 provinces. “We will expand this chain [of primary, secondary and high schools] over all of Turkey.”

Bahçeşehir also operates universities and university preparatory schools, referred to as “dersanes” in Turkish. However, Deldağ said Carlyle had currently agreed to only cooperate with Bahçeşehir in running educational institutions up to the high school level. The school chain’s founder, Enver Yücel, as well as his family members, will continue their partnership in the management of schools, he added.

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