Education business firm Galileo Global up for sale with $2.7 bn price tag

The schools run by Galileo include the Paris School of Business (PSB), Macromedia University in Germany and Italian fashion school Istituto Marangoni

The private equity owner of one of Europe's largest private education groups, Galileo Global Education, has put the business up for the sale in a deal worth about 2.5 billion euros ($2.72 billion), three sources told Reuters.

U.S. buyout fund Providence has hired Goldman Sachs and Rothschild to find a new owner for the Paris-based firm which runs a network of 42 schools in ten countries, the sources said, speaking on condition of anonymity.

An auction process kicked off in early February with Providence targeting a wide range of potential bidders including family offices, sovereign wealth funds and infrastructure investors,