Fullshare buys into childcare
THE owners of the Sheraton Mirage Port Douglas, Hong Kong-listed Fullshare Holdings, has bought a 90 per cent stake in Queensland and Victorian childcare operator Sparrow Early Learning in the group’s first Australian investment outside the resorts sector.
Fullshare, controlled by property tycoon Ji Changqun, has agreed to buy about 90 per cent of the issued capital in the Brisbane-based childcare operator for $85 million.
The acquisition was in line with Fullshare’s “healthy lifestyle”-related investments, which started with childcare and extended to aged care, according to its associated head of investment and finance Jonathan Broughton.
“The focus of Fullshare is very much on promoting a healthy lifestyle,” Mr Broughton told News Corp from Hong Kong.
“Tourism assets fall into that bracket because you’ve got a lot of Chinee tourists coming to appreciate Australia’s beautiful natural resources. We are seeing a particular opportunity in education as well.”
The company started as aproperty development business in Nanjing more than 20 years ago.