Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  JPMorgan Chase & Co.    JPM

JPMORGAN CHASE & CO.

(JPM)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Education First in exclusive talks to sell China business to Permira: sources

share with twitter share with LinkedIn share with facebook
share via e-mail
02/17/2020 | 07:54pm EDT

Swiss language tutor Education First (EF) has entered exclusive talks with global private equity firm Permira to sell its China operations, in a deal valuing the business at $1.6 billion, said two people with direct knowledge of the matter.

EF, owned by founder Bertil Hult and his family, hired JPMorgan Chase & Co to help sell the mainly children-focused business last year, coming as multinational firms re-evaluate their China operations where economic growth is slowing.

The language tutor achieved about $100 million in earnings before interest, tax, depreciation and amortization (EBITDA) last year at its China business, said one of the people.

An enterprise value (EV) of $1.6 billion would yield an EV/EBITDA multiple - a metric investors use to help determine a company's value - of 16 times following a second round of bids, from nearly 20 times after the first round when EF aimed for a value of $2 billion, the people said.

EF invited Permira to participate in the second round last month alongside private equity peers including Hillhouse Capital, Boyu Capital, CVC Capital Partners and General Atlantic, said the people.

Permira, which in October closed its latest global buyout fund of $12 billion, is in talks with several banks for a loan to help finance the potential acquisition, said one of the people.

The private equity firm plans to wait for EF China's financial reports for the first quarter of 2020 to re-negotiate the price, the person said.

EF, Permira and JPMorgan declined to comment on the deal. Boyu could not be immediately reached for comment. Hillhouse, CVC and General Atlantic did not respond to requests for comment. The people declined to be identified as the information was confidential.

EF, on its website, said it opened its first China school in Shanghai in 1993 and expanded to over 300 teaching centers across 60 Chinese cities, offering language courses for children and adults as well as study tours.

The potential sale comes at a time when a fast-spreading conoravirus, which has claimed over 1,700 lives, has forced local governments in China to order the closure of schools and non-essential companies until further notice.

"We are leading the drive to provide online learning at an unprecedented speed and scale so that our students can continue their studies with our teachers in real time during this special period," EF told Reuters. It said 150,000 students had migrated from offline to online since mid-January.

China makes up a significant portion of EF's global revenue, with the bulk coming from children's language learning programs, Reuters previously reported.

(This story is refiled to correct the first paragraph to clarify Education First is Switzerland-based, not a Swiss firm)

By Kane Wu and Julie Zhu

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on JPMORGAN CHASE & CO.
04/09Disney, Six Flags and Big Lots rise; Costco falls
AQ
04/08JPMORGAN CHASE : Thinking about trading options or stock in Boeing, China Biolog..
PR
04/07GLOBAL MARKETS LIVE: Plane and car manufacturers further halt production
04/07JPMORGAN CHASE & CO. : quaterly earnings release
04/07JPMORGAN CHASE : Dimon Sees Bank Enduring Bad Recession
DJ
04/06JPMORGAN CHASE : CORRECTING and REPLACING JPMorgan Chase to Host First-Quarter 2..
BU
04/06JPMORGAN CEO WRITES IN SHAREHOLDER L : Expecting 'a Bad Recession'
DJ
04/06JPMORGAN CHASE : Chairman and CEO letter to shareholders
PU
04/06JPMORGAN CHASE : Publishes 2019 Annual Report, Including Chairman & CEO Letter t..
BU
04/04JPMORGAN CHASE : Small Firms See Hiccups Applying for New Loans
DJ
More news
Financials (USD)
Sales 2020 112 B
EBIT 2020 44 552 M
Net income 2020 24 593 M
Debt 2020 -
Yield 2020 3,57%
P/E ratio 2020 12,9x
P/E ratio 2021 11,0x
Capi. / Sales2020 2,80x
Capi. / Sales2021 2,74x
Capitalization 313 B
Chart JPMORGAN CHASE & CO.
Duration : Period :
JPMorgan Chase & Co. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends JPMORGAN CHASE & CO.
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 109,32  $
Last Close Price 102,76  $
Spread / Highest target 47,9%
Spread / Average Target 6,39%
Spread / Lowest Target -25,1%
EPS Revisions
Managers
NameTitle
James Dimon Chairman & Chief Executive Officer
Gordon A. Smith Co-President & Co-Chief Operating Officer
Daniel E. Pinto Co-President & Co-Chief Operating Officer
Jennifer A. Piepszak Chief Financial Officer
Lori A. Beer Chief Information Officer
Sector and Competitors
1st jan.Capitalization (M$)
JPMORGAN CHASE & CO.-32.35%313 014
INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED0.00%254 711
BANK OF AMERICA CORPORATION-28.75%216 898
CHINA CONSTRUCTION BANK CORPORATION-0.16%203 146
BANK OF CHINA LIMITED-0.99%136 691
WELLS FARGO & COMPANY-43.72%135 768