EduTrek Is Sold to Career Education Corporation

The Career Education Corporation, which operates 30 for-profit colleges, is buying EduTrek International, the financially troubled company that owns American InterContinental University, for $81-million.

The purchase comes after more than two years of financial and management difficulties for the Atlanta-based company, which operates seven American InterContinental campuses.

Career Education, located in Hoffman Estates, Ill., said EduTrek's shareholders