TPG, a US private equity firm, was on the process of purchasing TSL Education for GBP400 million equivalent to US$595.30 million. TSL Education was a publisher of the Times Educational Supplement. It was a unit of Charterhouse, a European private equity firm. The information came from two people on Monday.
Since 2007, TSL was owned by Charterhouse. According to one of the sources, Charterhouse decided to sell TSL in December 2012. It hired Goldman Sachs to look for potential buyers.
TPG and Charterhouse both refused to give a statement about the matter.
However, Sky News reported that later on Monday, the deal would be announced.
San Francisco-headquartered TPG was said to be attracted by TSL's network of 52 million teachers in the internet.
The agreement would mark the third change of proprietorship for TSL in less than 10 years. TSL was formerly owned by News International. In 2005, Exponent Private Equity acquired it.
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