NEW YORK, March 18 (Reuters) – Grenada’s St. George’s University, which came to prominence in 1983 when U.S. President Ronald Reagan sent in troops to evacuate American students following a military coup, is up for sale, people familiar with the matter said on Monday.
The university is speaking to private equity firms about a deal and is hoping to fetch more than $1 billion, said the four sources, who spoke on condition of anonymity because the talks are confidential.
A sale could end more than 36 years of independence for the university, one of the largest medical schools in the world.
Credit Suisse Group AG is advising St. George’s University on the sale, one of the people said. Last year the bank helped arrange a $250 million loan whose proceeds were partly used to pay the university’s founders a special dividend.
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