St George's University in Grenada is up for sale according to anonymous sources. The school came to prominence when then US President Ronald Reagan ordered troops to evacuate American students in the island country following a military coup back in 1983.
The university is currently in discussion with private equity firms on a deal that could amount to US$1 billion. When sold, this would mark the independence of the school after thirty six years as one of the largest medical schools in the world.
Advising the school on the sale is Credit Suisse Group AG as this was the same group that helped facilitate a US$250 million loan for the university. Part of the loan proceeds were used to pay the founder shares with a special dividend. The university generates around US$100 million before EBITDA or interest, tax, depreciation and amortization.
University representatives and Credit Suisse did not respond to comment requests.
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