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Cape Town – Stadio on Friday announced that it will buy 20-year-old Milpark Education for R320m.
Stadio is the JSE-listed investment firm with links to Curro [JSE:COH] that aims to develop private higher education institutions in South Africa.
Milpark’s master of business administration degree (MBA) has been ranked number one amongst private providers of the MBA in South Africa by PMR.africa for three consecutive years, from 2015 to 2017, Stadio said in a statement on Friday.
Stadio and Brimstone [JSE:BRN] will have a 70% and 30% stake respectively after agreeing to buy MBS Education from Coöperative Apollo Global Netherlands, Encosolve and MBS Education Investments.
“The acquisition of Milpark provides Stadio with a wide variety of additional qualifications in the business and commerce faculty and will assist Stadio in widening access to higher education in South Africa,” Stadio said.
“Stadio intends to acquire several additional programmes (including degrees, higher certificates and diplomas) in order to expand its offering to students, which include school leavers and working adults, through both contact and distance learning modes of delivery.”
Stadio is the exciting new separately listed entity that will house various higher education institutions they define as a ‘Multiversity’, according to Werner Erasmus is regional manager for Gauteng at Overberg Asset Management.
“Stadio will have around 13 000 registered students among three higher education institutions with five faculties and will be geographically placed in Gauteng, Western Cape, KwaZulu-Natal, Eastern Cape, Botswana and Namibia,” said Erasmus.
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