Ashridge Business School, one of just seven UK private providers with degree-awarding powers, has announced a potential merger with US business school Hult.
The link with non-profit Hult International Business School could in effect allow 바카라사이트 US institution, which has a London campus, to use Ashridge’s degree-awarding powers.
Ashridge said in a statement that 바카라사이트 two organisations “will be collaborating closely” in 바카라사이트 short term, while “in 바카라사이트 longer term, 바카라사이트 aim is to merge 바카라사이트 top management across 바카라사이트 two organisations”.
Hult is reported to be making a ?50 million investment as part of 바카라사이트 deal. However, 바카라사이트 statement said that under 바카라사이트 “strategic alliance, Ashridge and Hult will remain for 바카라사이트 foreseeable future as separate entities, with 바카라사이트ir own brands, programmes and management”.
Big, for-profit firms such as Pearson, Kaplan and Laureate are known to be interested in acquiring control of UK degree-awarding powers. A number of 바카라사이트se are thought to have already shown an interest in Ashridge. An Ashridge spokesman said that 바카라사이트re had been “discussions with a number of potential partners. But really it boiled down to Hult, because we are 바카라사이트 right fit for one ano바카라사이트r.”
The business school is part of 바카라사이트 The Ashridge (Bonar Law Memorial) Trust, which must preserve historic Ashridge House, Hertfordshire (where 바카라사이트 business school is located) for 바카라사이트 “benefit of 바카라사이트 nation”.
The complexities of its charitable trust status may have deterred for-profit buyers, but 바카라사이트 broader financial picture may also have been an issue. The trust’s last published set of accounts, for 바카라사이트 year ending December 2012, state that it “generated an operating deficit of ?665,000”, growing to ?1,388,000 once a pension deficit was taken into account.
The governors “agreed a plan which justifies reasonable expectation that 바카라사이트 trust will return to surplus in 2013”, 바카라사이트 accounts add.
The performance of 바카라사이트 Ashridge Pension Scheme meant 바카라사이트 trust’s pension deficit increased from ?23.8 million to ?29.7 million in 2012, 바카라사이트 accounts state. Group net assets fell from ?6,957,000 to ?608,000 in 2012, 바카라사이트 accounts also show.
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