28565 - Estacio

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Summary of Proposed Investment

Project Number

28565

Company Name

ESTACIO PARTICIPACOES S/A

Date SPI Disclosed

Oct 6, 2010

Country

Brazil

Industry

Health, Education and Life Sciences

Projected Board Date

Nov 8, 2010

Status

Completed

Sector

Colleges, Universities, and Professional Schools

Department

Gbl Ind, Manufact, Agribus & Services

Environmental Category

B - Limited

Previous Events

Approved : Dec 7, 2010
Signed : Dec 15, 2010
Invested : May 20, 2011

Project Description

Estácio Participações S.A. and its subsidiaries (“Estácio” or the “Company”) is one of Brazil’s largest private post-secondary education institutions with about 200,000, mostly undergraduate, students, spread over a network of 72 campuses with a significant presence in the state of Rio de Janeiro and the North and Northeast of the country. Estácio also operates a university in Paraguay. Estacio is undertaking a corporate investment program to renovate its campuses, develop new campuses and expand its distance learning platform.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	30.0
Equity

Development Impact

The project will i) increase access to quality post-secondary education, especially for lower income students; ii) improve the quality of post-secondary education throughout Brazil through academic and operational improvements and standardization; (iii) expand the Company's operations in frontier regions, in particular the Brazilian Northeast; (iv) enhance efficiency and rationalization of the sector in Brazil.

One of the pillars of IFC's global Health and Education strategy is to support health and education projects with strategic clients, predominantly larger, for profit providers which have the ability to grow and operate in several markets, move down-market to reach lower income households, create centers of excellence and provide employment opportunities for skilled professionals. Estacio, given its market leadership, focus on lower middle classes, and broad footprint in Brazil, is a strong fit with the profile of our strategic clients. By becoming Estacio's first lender, IFC will provide the Company with the stamp of approval that it needs to seek financing from other lenders. Additionally, IFC will help Estacio implement E&S best practices, improve its social responsibility program, and improve its energy and water efficiency.

This is a Category B project according to IFC’s Procedure for Environmental and Social Review of Projects because of a limited number of specific environmental and social impacts which can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria. Key environment, health and safety and social aspects of the project, analyzed during IFC’s review, include: Environmental and Social Management System (ESMS); life and fire safety of building infrastructure; labor and working conditions of employees and subcontractors; energy conservation of building infrastructure; hazardous and non-hazardous solid waste management; and land acquisition for expansion activities.

Contacts

For Inquiries About the Project, Contact

Fabio Sandri, CFO or Daniel Venturini, Financial Manager Av. Embaixador Abelardo Bueno, 199 / 6° andarCEP 22.775-040Barra da Tijuca - Rio de Janeiro/RJ - Brasil

For Inquiries and Comments About IFC, Contact

General IFC Inquiries IFC Corporate Relations 2121 Pennsylvania Avenue, NW Washington DC 20433 Telephone: 202-473-3800 Fax: 202-974-4384E Mail: Webmaster

Local Access of Project Documentation

Av. Embaixador Abelardo Bueno, 199 / 6° andarCEP 22.775-040Barra da Tijuca - Rio de Janeiro/RJ - Brasil

This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors' consideration of the proposed transaction. It is not an offer of shares to the public and is intended solely to enhance the transparency of IFC’s activities. This document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only. The following SPI is disclosed in accordance with IFC’s Policy on Disclosure of Information that went into effect April 30, 2006.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

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