Westminster Alum Expresses Interest In Buying College: Report

PRINCETON, NJ — Another buyer may be emerging for Westminster Choir College.

The Westminster Foundation sponsored a public forum concerning the proposed sale of Westminster Choir College to Chinese-based Kaiwen Education on June 27 at Nassau Presbyterian Church. The forum offers interested parties the chance to ask questions, give opinions and exchange ideas about the college's future.

At that forum, Westminster Foundation President Constance Fee, a graduate of Westminster Choir College, told the Princeton Packet said she would like to raise the money to buy the college and its Princeton campus from Rider University rather than see it go to Kaiwen.

The foundation’s attorney is optimistic about a fundraising campaign, but a university spokesperson noted it was important to understand the point of the purchase and sale agreement between the university and Kaiwen.

The price of the sale remains $40 million, but Kaiwen will invest an additional $16 million in the college over a five-year period beginning on the closing date for working capital and capital expenditures, the university said in a release. The $40 million price tag is also subject to transaction adjustments.

Under that deal, Rider would continue to operate Westminster Choir College, the Conservatory and Continuing Education during the upcoming academic year. During that time, the university and Kaiwen will work together to recruit students for the 2019-2020 academic year, according to Rider.

Westminster Choir College was once an independent institution, but became part of Rider University when it faced tough financial times.

Patch file photo