Kroton Educacional SA, Brazil’s biggest for- profit college operator by market value, agreed to sell one of its universities for as much as 1.1 billion reais ($280 million) to comply with measures imposed by Brazil’s antitrust regulator.

Kroton agreed to sell Uniasselvi, located in the southern state of Santa Catarina, to Carlyle Group LP and Brazil-based Vinci Capital Gestora de Recursos Ltda., according to a statement from the U.S. private-equity firm. It marks the first investment by Carlyle in Brazil’s education sector after it bought stakes in a hospital-chain operator and a personal- assistance company in the past year.

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