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Curro concludes inter-group deals

Dec 12 2012 12:27
I-Net Bridge

Johannesburg - Private schooling company Curro Holdings has sold its subsidiary‚ Educatum Management Services Proprietary‚ to Meridian College Schools for R25m in cash as part of an inter-group restructuring deal. 

The proceeds of the disposal will be used to settle existing liability and ongoing working capital requirements‚ Curro said on Wednesday in a statement. 

At the same time‚ Meridian College Schools has sold its movable assets and intangible assets to Curro’s subsidiary‚ Campus and Property Management Company Proprietary‚ for R25m in cash. 

The proceeds of the acquisition were utilised by Meridian College Schools to settle the consideration due to Curro in respect of the disposal.

 

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