SARAJEVO (Bosnia and Herzegovina), November 11 (SeeNews) - Investment fund US Global Invest LLC is taking over all ownership rights in Bosnia's Bosna Sema Educational Institutions, Bosna Sema has announced.
The representatives of the US Global Invest LLC and Bosna Sema had successfully completed negotiations regarding the transfer of all ownership rights to the US fund, Bosna Sema said in a press release late on Thursday.
Financial details were not disclosed.
The US fund has also initiated the process for obtaining accreditation in the US and plans to establish double degree arrangements with some prominent academic institutions in the US.
"We are impressed with what we saw in the campus, and we are now very confident that we as foreign investors we made a good decision. We know that investing in this project is important and beneficial for Bosnia and Herzegovina and its citizens, but also for the company I represent as the advisor", professor Samuel Henry, advisor for educational affairs in US Global Invest LLC, is quoted as saying in the release.
Bosna Sema Educational Institutions are privately owned institutions covering the area of upbringing and education, based in Sarajevo. It was established in 1998, with the aim to assist and support the educational system of Bosnia and Herzegovina. Bosna Sema owns 14 educational institutions including the International Burch University.
New ownership engagement will not affect the flow of education processes at schools and at Burch University, Bosna Sema added in the press release.
Earlier this year, local media reported that Bosna Sema will gift its entire assets, worth some 120 million marka ($66.8 million/61.4 million euro), to the Islamic Community in Bosnia, however it was later reported that the transaction will not take place.
US Global Investment LLC is an investment company established in 1999.
(1 euro=1.95583 marka)
