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BRIEF-Apollo Education says Queso accepts requirements listed by U.S. DoE
December 21, 2016 / 2:26 PM / 10 months ago

BRIEF-Apollo Education says Queso accepts requirements listed by U.S. DoE

Dec 21 (Reuters) - Apollo Education Group Inc :

* Apollo Education-U.S. Department Of Education provided supplemental response to preacquisition review application filed by University Of Phoenix, Western International University

* Queso must demonstrate that immediately following merger, it has $200 million of cash on its balance sheet

* Apollo Education - supplemental DoE preacquisition response also clarified manner in which enrollment, retention and graduation rates will be calculated

* Apollo Education Group - co informed by Queso that it acknowledges and accepts mandatory requirements stipulated in initial doe preacquisition response

* Apollo Education Group - within ten days after merger, Queso would be required to post letters of credit with DoE in aggregate amount of $154.3 million

* Apollo Education - response from department in connection with review regarding pending merger with AP VIII Queso Holdings, L.P. Source text: (bit.ly/2hTfEeZ) Further company coverage:

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