The agreement was that SP Costa Rica Holdings would make an initial payment of $15 million and the remaining $7 million would be cancelled within two years, if income and new student enrollment goals are met.

You may be interested in "Educational Services: Opportunities in Peru"

Nacion.com reviews that the agreement contemplates that the buyer "... will assume a debt of $30 million with financial entities, corresponding to the investments made in recent years, in the construction of a new campus in Heredia and improvements to the headquarters of Lourdes de Montes de Oca."

Regarding the construction of the campus in Heredia, CentralAmericaData reported that in December 2016 Universidad Latina filed the EIA to build its new facilities in the district of Rincón de Sabanilla, and that the estimated investment for this project would amount to $21.5 million.

The article adds that "... The buyer (SP Costa Rica Holding) is controlled by affiliate firms of Sterling Capital Partners II, L.P. (Sterling II). Sterling II has the right to appoint a director to our board of directors pursuant to a security holder agreement."

Source: Nacion.com

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