U.K.’s ICG Group Nears Deal to Sell Singapore Private-Education Institution

SINGAPORE—U.K.-listed asset manager Intermediate Capital Group ICG 1.38%increase; green up pointing triangle is nearing a deal to sell one of Singapore’s largest private-education institutions for over US$380 million, people familiar with the process said.

The asset manager is in advanced talks to sell PSB Academy to Singapore private-equity firm Sun Venture for close to 500 million Singapore dollars, equivalent to US$382.5 million, the people said. If the parties reach an agreement, a deal could be signed as early as December, one of them said.