Buyout Firms Circle EF Education First’s $2 Billion Chinese Unit

Private equity firms Hillhouse Capital and Permiraare among suitors that have submitted first-round bids for Chinese operations being sold by EF Education First Inc., people familiar with the matter said.

Warburg Pincus is also among suitors that have expressed interest in part or all of EF Education First’s business in the country, according to the people. The sale could fetch $1.5 billion to $2 billion, the people said, asking not to be identified because the information is private.

Education companies are looking to meet the needs of Chinese students and their parents who see fluency in foreign languages ...