Apollo Group, Inc. (Nasdaq: APOL) (“Apollo Group,” “Apollo” or “the
Company”) confirmed today that its 80.1% owned subsidiary, Apollo
Global, Inc., has approached the Board of BPP Holdings plc (“BPP”), a
European provider of professional education and training, to discuss the
potential acquisition of all of the outstanding shares of BPP at 620
pence per share in cash. No offer has been made and further discussions
are subject to Apollo Global’s completion of a satisfactory due
diligence investigation. There is no certainty that an offer will be
made or that, if an offer is made, a transaction will be consummated.
This announcement is being made by Apollo Group because BPP requires
disclosure of certain information about the potential transaction.
Apollo undertakes no obligation to update this information. A further
announcement will be made if and when Apollo Group deems it appropriate
or as may be required by law.
About Apollo Group, Inc.
Apollo Group, Inc. has been an education provider for more than 30
years, providing academic access and opportunity to students through its
subsidiaries, University of Phoenix, Institute for Professional
Development, College for Financial Planning, Western International
University, Meritus University, Insight Schools and Apollo Global. The
Company's distinctive educational programs and services are provided at
the high school, undergraduate, graduate and doctoral levels in 40
states and the District of Columbia; Puerto Rico; Canada; Mexico; Chile;
and the Netherlands, as well as online throughout the world (data as of
February 28, 2009).
For more information about Apollo Group, Inc. and its subsidiaries, call
(800) 990-APOL or visit the Company’s website at www.apollogrp.edu.
About Apollo Global, Inc.
Apollo Global, Inc., a $1 billion joint venture formed in 2007, is 80.1%
owned by Apollo Group, Inc. and 19.9% owned by private equity firm The
Carlyle Group. Apollo Global was formed with the intention of making a
range of investments in the international education services sector.
