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Apollo’s New Owners to Seek Fresh Start for Beleaguered Company

Apollo Education Group’s decision to go from publicly traded for-profit company to a privately held one may not be the only major restructuring the company will face down the road.

The parent company of the University of Phoenix announced yesterday that it would be sold to a group of investors, including the Vistria Group, for $1.1 billion. Tony Miller, the chief operating officer and a partner of the Vistria Group, who is a former deputy secretary of the U.S. Department of Education, will become chairman of the Apollo board.