US-listed education provider moves in

US-listed firm Nord Anglia Education has taken over the management of Northbridge International School, the education provider announced earlier this month.

Nord Anglia, which currently operates 29 schools stretching from the US to the Middle East, to China, on July 10 took over the day-to-day operations of Northbridge, an international school owned by Cambodian conglomerate Royal Group.

“What it does for Northbridge school is it basically puts it in their management, and they are basically the best in that class – globally,” said Royal Group chief financial officer Mark Hanna said.

Located in Northbridge Communities, one of Phnom Penh’s oldest gated communities, the school currently has about 500 students between the age of 3 and 18 years old.

“The Cambodian economy is rapidly developing. Foreign direct investment in the country and increasing GDP are driving a growing demand for quality, private education from both expat and local families alike,” George Ghantous, the regional managing director for the Middle East and Southeast Asia for Nord Anglia Education, said in an emailed statement yesterday.

Royal Group and Nord Anglia both declined to reveal the value of the deal.

http://www.phnompenhpost.com/business/us-listed-education-provider-moves