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Laureate Education on Wednesday announced the sale of UniNorte, a university in Brazil, for roughly $50 million. The Baltimore-based global college network also said it has completed the sale of Monash South Africa, a university located in Johannesburg. The company received $7.4 million to complete the sale.

Despite the sale of UniNorte, Laureate said it remains committed to Brazil, where it has a large footprint. The company said that UniNorte is "located in the middle of the Amazon, while all of its other Brazilian operations are along the coast."

Laureate has been selling off holdings in recent years as part of what the company describes as a simplification strategy and a shift toward focusing on emerging and large markets.