Adtalem completes $1B sale of Financial Services segment; plans $770M debt paydown

Covista Inc.

Sold ACAMS, Becker Professional Ed, and OnCourse Learning to Wendel Group & Colibri Group for $1B cash.
Net proceeds ~$820M; company will deploy ~$770M to pay down debt within 30 days.
Annualized interest expense savings of approx. $40M from debt reduction.
Pro forma balance sheet shows long-term debt reduced from $1.6B to $849M as of Dec 31, 2021.
Transaction sharpens focus on healthcare education; CEO cites strengthened balance sheet.

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