Brief: Virscend education Updates on acquisition of 24.3% economic interest in the university

Virscend Education

25/11/2016 12:21

Nov 25 (Reuters) - Virscend Education Co Ltd  1565.HK  
    * On 15 november 2016, Sichuan Derui and Xinhua Winshare 
entered into school sponsor's interest transfer agreement 
    * Sichuan derui agreed to purchase 24.3% of school sponsor's 
interest in university at cash consideration of rmb260.25 
million 
    * Tibet Huatai, Sichuan Derui, University and registered 
shareholders entered into school sponsor's interest arrangement 
agreement 
    * Existing structured contracts with respect to increase in 
school sponsors' interest held by sichuan derui 
    * Pursuant to existing structured contracts tibet huatai 
shall pay to sichuan derui a sum equals to total consideration 
payable by sichuan derui to xinhua winshare 
 
Source text for Eikon:  ID:nHKS9NRWYw  
Further company coverage:  1565.HK  
 
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