Johannesburg - Curro Holdings [JSE:COH], an operator of private schools in South Africa, said it’s in talks with Advtech as the company seeks to take advantage of demand for private education in the country.
Advtech [JSE:ADH] shares rose to an record.
“Further to press reports and public speculation, Curro confirms that it is in discussions with Advtech Limited,” the Johannesburg-based company said in a statement on Wednesday.
South Africa’s education system was ranked the fifth-worst among 144 countries in a survey by the World Economic Forum last year, increasing the attraction of private schooling for those who can afford it.
The school pass rate for final-year students fell for the first time in five years in 2014 after changes to the curriculum.
Advtech shares rose as much as 7.1% and were up 4.9% to R11.75 as of 11 a.m. in Johannesburg, giving the company a market value of R5.35bn. Curro fell 0.4% to R33.85.