Intueri Education Group has been placed into voluntary administration after a strategic review garnered an offer for its operating assets that is less than the value of its debt.
The company said the move only affects the parent company and non-operating subsidiaries and that its three private training establishments “continue to trade as normal”.
BusinessDesk understands ACG Education, which is controlled by Australian buyout firm Pacific Equity Partners, has made an offer for the three New Zealand colleges.
Intueri said it has received an offer for those businesses but it is below the $70.7 million in debt with ANZ Bank New Zealand, meaning the bank would be forced to take a loss. The company operates with the approval of ANZ af…
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