Byju’s lenders appoint risk advisory firm Kroll to secure high-value assets

Lenders appoint Kroll: In a bid to protect assets, including Great Learning Education and Byju’s Pte. Ltd., lenders of Byju's have appointed risk advisory firm Kroll. The move comes as Byju's looks to monetise assets like Epic and Great Learning to repay its lenders. According to the media reports, Cosimo Borrelli and Jason Aleksander Kardachi will oversee this task, providing valuation, governance, risk, and transparency services. 

The appointment was made on behalf of secured creditors of Byju’s Alpha Inc, primarily focusing on protecting and preserving assets and businesses owned by Great Learning and BPL. This decision follows reports of the management and founders of Great Learning exploring a management buyout to maintain business growth. Byju’s aims to monetise high-earning assets to repay its term loan B lenders, and the sale of assets is part of this strategy.

Kroll is collaborating closely with the management of Great Learning to ensure the seamless delivery of learning experiences and continued business growth. This move aligns with Byju’s efforts to address rising debt and concerns over corporate governance.

Epic and Great Learning on sale

Byju’s has recently put Epic and Great Learning up for sale, potentially fetching around $800 million to $1 billion. This initiative aims to advance the repayment of the outstanding term loan B.

Byju's has been facing challenges related to corporate governance and a significant debt burden. Amid these circumstances, the move to safeguard assets through Kroll's expertise demonstrates a strategic effort to protect the interests of all stakeholders involved.