British company Gedu taking 85% stake in ICN Business School (France): "We need financial support"

"ICN Business School is academically strong, but we have to recognise that it is economically fragile in an extremely competitive environment. To maintain a high-quality teaching staff and campuses and continue to invest, particularly in digital technology, we need financial support. That's why we've been looking for an investor," says Florence Legros, Director of ICN Business School, a French institution located in Paris, on 26/11/2024.

She is speaking on the occasion of Gedu Global Education's acquisition of a stake in the school. The group will inject €40 M: €20 M at the end of the operations and €20 M three years later depending on the school's development priorities. It will hold 85% of the capital, the other 15% remaining as a non-profit association.

Gedu, an educational group based in Greenford in the UK, was founded in 2010 and is headed by Vishwajeet Rana. It has 60,000 students and is present in 12 countries. It has a turnover of €500 M and 20% of Ebitda.

"Today, ICN is an association. It will not disappear. A company has been created in parallel, and it receives a…