Brazil’s Anhanguera Returns for More Equity

Anhanguera Educacional, a for-profit education company based in the state of Sao Paulo, has filed plans to raise more equity capital through a mix of primary and secondary shares. The company, which raised $242m in a March 2007 IPO, has already spent the proceeds, and is coming back to replenish its coffers, says an executive close to the deal. Anhanguera’s strategy is to grow primarily through acquisitions, and to be a consolidator in the educational sector in Brazil. Credit Suisse, Merrill Lynch and Santander will lead the offering.