Abril Buys Education Duo

Brazilian education provider Abril Educacao bought two schools late last week. The Grupo Abril subsidiary paid BRL130m for Centro Educacional Sigma, and BRL103m for primary and secondary educator Colegio Motivo. Abril will pay BRL103m upfront for Sigma, paying the remainder in five annual installments of BRL5.4m, indexed to CDI. The deal gives Abril a presence in Brazil’s Midwest. The Motivo acquisition, for which it is putting down BRL81m when the deal closes and the rest in 2014 and 2015, will expand Abril’s presence in the fast-growing northeast of Brazil.