Jobs website SEEK is selling its stake in a private colleges firm to a multinational higher education group with ties to former US president Bill Clinton.
Laureate International Universities (LUI) will pay SEEK $104 million for its remaining 80 per cent stake in the THINK Education Group, which has campuses in Sydney, Melbourne, Brisbane and the Gold Coast.
THINK's colleges teach business, tourism and events management, along with public relations and marketing.
SEEK chief executive Andrew Bassat said the transaction would allow the group to focus on its online employment and education businesses.
"THINK will continue to be a partner for SEEK Learning and I look forward to continuing our strong relationship with Laureate," he said in a statement on Thursday.
LUI was established in 1998 and has Mr Clinton as its honorary chancellor.
The group operates in 30 countries, including the UK, Singapore, Spain.
The transaction is expected to be completed by the end of January, with $8 million of the $104 million after tax cash payment to be deferred for 12 months.
SEEK said it would make a profit on the sale in the first half of the 2013/14 year.
Its shares gained 15 cents to $12.95.
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