June 29, 2017 / 6:15 AM / a month ago

BRIEF-H-Farm: new acquisitions in education sector

1 Min Read

June 29(Reuters) - H-FARM SPA:

* ANNOUNCED ON WEDNESDAY IT HAS RAISED ITS STAKE IN BIGROCK, SCHOOL OF COMPUTER GRAPHICS, TO 99 PCT FROM 30 PCT PREVIOUSLY HELD

* VALUE OF TRANSACTION AT 2.3 MILLION EUROS, OF WHICH 1.9 MILLION EUROS IS PAID IN CASH AND REMAINING PART IN H-FARM SHARES, RECENTLY ACQUIRED THROUGH TENDER OFFER TRANSACTION(50 PCT AT THE SIGNATURE DATE AND REMAINING 50 PCT AT JULY 15, 2018 WITH OBLIGATION TO LOCK-UP TO 18 AND 24 MONTHS)

* THE CO HAS ALSO ACQUIRED 100 PCT OF ENGLISH INTERNATIONAL SCHOOL DI ROSÀ

* TRANSACTION VALUE IS 2.5 MILLION EUROS, OF WHICH 2.1 MILLION EUROS IS PAID IN CASH AND REMAINING PART IN H-FARM SHARES, RECENTLY ACQUIRED THROUGH TENDER OFFER TRANSACTION (BOUND FOR 50 PCT TO 12 MONTHS AND REMAINING 50 PCT AT 24 MONTHS

Source text: reut.rs/2spjdgQ

Further company coverage: (Gdynia Newsroom)

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