Full­share buys into child­care

Port Douglas & Mossman Gazette - - BUSINESS -

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.

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