On a spend­ing spree

Finweek English Edition - - Marketplace -

Sta­dio is al­ready on a buy­ing spree, join­ing up with Brim­stone to buy Mil­park Education, which of­fers higher education and fur­ther education and train­ing qual­i­fi­ca­tions. The part­ners will pay cash of R320m, with Sta­dio, which is tak­ing 70% of the joint ven­ture, to pay R224m. With the Sta­dio rights is­sue set to raise R640m, part of which is to re­pay a bridg­ing loan from Curro, it has the money and this is a nice ac­qui­si­tion with 17 000 reg­is­tered stu­dents. It adds rev­enue and ex­per­tise and, frankly, there are prob­a­bly very few po­ten­tial deals like this lo­cally, so this is a real score for the com­pany.

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