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Bertlesmann buys in Brazil

Bertelsmann, of Germany (owner of PenguinRandomHouse) is taking a 25% equity stake (and 46% of the voting rights) in Brazil medical education provider Afya for a €500m consideration. It is acquiring the shares from Crescera Capital. Bertelsmann was a founder member of Afya (through its shareholding in Crescera) and has helped it grow into a major player in the medical education market within Brazil. The company’s revenues have been growing strongly and were €203m in 2020. It has been listed on the US Nasdaq since 2019.

Bertelsmann is aiming to generate €1bn from education so the deal supports this goal. Afya has almost 250k doctor and medical student users for its digital education platform. The other shareholders include co-founders the Esteves family and the Afya management team.