Indian university cancels its plan to buy 2 US campuses

Boston :A chain of colleges in India has dropped its plan to buy two for-profit colleges in Massachusetts and New York City.

The Amity University chain filed paperwork in July proposing to buy the New England Institute of Art and the Art Institute of New York, which are now owned by Pittsburgh-based Education Management Corp.

Amity had planned to buy the colleges as part of a global expansion. But Education Management Corp. officials said on Tuesday that Amity has withdrawn from the transaction. They would not say why Amity officials did not immediately comment.

State officials in Massachusetts had said they were skeptical of the chain because it has no track record in the US.

In a separate deal, Amity also recently purchased a campus on Long Island in New York.

PTI