Bright Scholar Education rises on deal to buy majority stake in Yinzhe

Bright Scholar Education Holdings

21/09/2018 16:27

** Chinese education firm's shares  BEDU.N  up ~6 pct at
$12.95
    ** BEDU to buy 75 pct of equity interest in online education
mentoring services provider Chengdu Yinzhe Education and
Technology Co Ltd for 202.5 mln yuan ($29.5 mln)  urn:newsml:reuters.com:*:nPn9S8D5ma
    ** BEDU to pay amount in four installments and may buy up to
15 pct more equity interest from 2021 to 2023
    ** "With the acquisition of Foundation, Can-Achieve and now
Yinzhe, Bright Scholar provides a comprehensive range of
services covering K-12 education as well as consulting services
for application to overseas institutions and now education
mentoring services for career placements" - BEDU CEO Jerry He
    ** Up to Thursday's close, BEDU had fallen 34.5 pct this
year

($1 = 6.8542 Chinese yuan)

 (Reporting by Arunima Banerjee in Bengaluru)
 ((Reuters Messaging:
arunima.banerjee.thomsonreuters.com@reuters.net))