By COLLIN BINKLEY, ASSOCIATED PRESS
BOSTON — Nov 1, 2016, 6:02 PM ET
After facing scrutiny from state officials in Massachusetts, a chain of colleges based in India has canceled its plans to buy two U.S. for-profit colleges.
The Amity University chain filed paperwork in July proposing to buy the New England Institute of Art, located near Boston, and the Art Institute of New York City, which are now owned by the Pittsburgh-based Education Management Corp. The deal would have helped Amity gain a foothold in the U.S. amid the chain's global expansion.
But Education Management Corp. officials said Tuesday that Amity has withdrawn from the proposed sale. Anne Dean, a spokeswoman for the corporation, would not say why the deal fell through. Officials from Amity, which is based in New Delhi, did not immediately respond to requests seeking comment.
http://abcnews.go.com/US/wireStory/indian-university-withdraws-plan-buy-us-campuses-43220729