Wong & Partners, the member firm of Baker McKenzie in Malaysia, advised Paramount Corporation Bhd. ("Paramount") in connection with its MYR 183 million acquisition for 66% of the issued and paid-up share capital of R.E.A.L Education Group Sdn. Bhd. ("REAL") from Character First Sdn. Bhd.
Paramount’s landmark acquisition of a majority stake in REAL is a significant transaction within the rapidly-growing private education sector in Malaysia. This strategic acquisition complements and expands Paramount’s existing education portfolio which is comprised of the renowned KDU brand, making it the largest provider of K-12 education in the market.
Wong & Partners acted as lead transaction counsel. Partner Andre Gan led the team, assisted by associates Adrian Chai, Siew Yen Tai and Calvin Koay.
"We are honoured to have work with Paramount again on this landmark transaction. This investment will significantly bolster Paramount's current market standing in the private education sector in Malaysia," said Andre.
"We were very pleased with the commitment and excellent work that the Wong & Partners team have brought to this transaction from kick-off to completion," said Paramount Corporation Berhad's Group Chief Operating Officer, Chris Tay. "Their deep knowledge and understanding of our education business, commercial pragmatism, and responsiveness put them in good stead to guide us through this transaction."
REAL provides K-12 education through its suite of pre-school, private school, international school and English language centres. It has three key brands, namely REAL Schools, REAL Kids and Cambridge English for Life and caters to 18,000 students across 30 REAL Kids centres, six international and private schools in three campuses, and 60 Cambridge centres.