KUALA LUMPUR, May 15 — CIMB Private Equity (“CIMB PE”) today announced the acquisition of a 33 per cent stake in R.E.A.L. Education Group (“R.E.A.L.”), one of Malaysia’s leading private education providers for a total consideration of up to RM33 million. The investment was recently completed and carried out via CIMB PE’s CIMB National Equity Fund Limited Partnership (“CNEF”), an outsourced fund management programme focused on supporting Malaysian businesses.

 This purchase is the second for CNEF, on the back of its maiden investment in a leading mobile technology solutions enabler in 2013.

Commenting on the acquisition, Kenny Kim, Group Chief Financial Officer and Chief Executive Officer of Group Strategy and Strategic Investments, CIMB Group said, “R.E.A.L is an outstanding player in the education industry, offering a differentiated range of learning programmes that resonate with the needs of Malaysians today. We are excited to partner with a trusted name such as R.E.A.L as we participate in the attractive growth of the education sector. This investment demonstrates CIMB PE’s resolve to be strategic business partners with local and regional leaders, and helping them realise their full potential.”

Sim Quan Seng, Executive Chairman of R.E.A.L echoed, “We are pleased to have CIMB PE on board as we institutionalise and grow our business. The synergies and added value that our new shareholders bring will propel our growth trajectory to the next phase. The team at R.E.A.L looks forward to this new chapter of our corporate life.”

CIMB PE, a wholly-owned subsidiary of CIMB Group, is a business within the CIMB Group Strategy and Strategic Investments Division set up to bring the Group’s financial expertise, experience and network into the sphere of alternative investments, including private equity, real estate, infrastructure and special situations. CIMB PE manages over RM6 billion in invested and committed capital as at 31 December 2013.

R.E.A.L Education Group is a full-fledged education service provider offering quality integrated education from preschool right up to primary, secondary and tertiary levels. Its business consists of the largest owner-operated kindergarten chain in Malaysia with over 30 centres, three private and international schools, a college and a provider of English language programmes.

It is currently operating under the R.E.A.L Kids, R.E.A.L Schools, ALFA College and Cambridge English for Life brands respectively.

About CIMB Group

CIMB Group is Malaysia’s second largest financial services provider and one of ASEAN’s leading universal banking groups. It offers consumer banking, investment banking, Islamic banking, asset management and insurance products and services.

Headquartered in Kuala Lumpur, the Group is now present in eight out of 10 ASEAN nations (Malaysia, Indonesia, Singapore, Thailand, Cambodia, Brunei, Vietnam and Myanmar). Beyond ASEAN, the Group has market presence in China, Hong Kong, Bahrain, India, Sri Lanka, Australia, Taiwan, Korea, the US and UK.

CIMB Group has the most extensive retail branch network in ASEAN of more than 1,000 branches as at 31 March 2014. CIMB Group’s investment banking arm is also one of the largest Asia Pacific-based investment banks, offering amongst the most comprehensive research coverage of more than 1,000 stocks in the region.

CIMB Group operates its business through three main brand entities, CIMB Bank, CIMB Investment Bank and CIMB Islamic. CIMB Group is also the 97.9 per cent shareholder of Bank CIMB Niaga in Indonesia, and 93.7 per cent shareholder of CIMB Thai in Thailand.

CIMB Group is listed on Bursa Malaysia via CIMB Group Holdings Berhad. It had a market capitalisation of approximately RM58.8 billion as at 31 March 2014. The Group has about 40,000 employees located in 17 countries. — Bernama