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İstanbul Bilgi University was 'sold' to Can holding for 90 million US dollars, according to the daily Sözcü.
The Board of Directors of the Bilgi Education and Culture Foundation told the newspaper in a statement following the sale that the academic staff would be retained.
The money from the sale will be used for Laureate International's new school investments in Turkey and nearby regions, it added.
"Our new supporters have joined The Information Education and Culture Foundation, which was founded in 1994. In this respect, the Can family has taken its place among the supporters of our foundation.
"While the current academic and administrative staff of the university will continue to their duties without any change, all other international collaborations, especially with the Laureate International University Network, will continue to grow.
"Our university continues its educational journey today as it did in the past with the principle of "learning for life, not for school".
Can group has been operating in Turkey since 1972 in the field of electronics, energy, tourism, logistics, health and tobacco industry. (TP/VK)
