Brief: East Buy Holding Announces Disposal Of Education Business To New Oriental

New Oriental Education & Technology

21/11/2023 12:12

Nov 21 (Reuters) - East Buy Holding Ltd  1797.HK :
    * APPROVED DISPOSAL,  BEING THE PROPOSED DISPOSAL OF THE
EDUCATION
BUSINESS TO PARENT COMPANY, NEW ORIENTAL
    * DEAL FOR RMB1.5 BILLION
    * NEW ORIENTAL IS CONTEMPLATING A POTENTIAL SUBSCRIPTION OF
NEW
SHARES IN THE COMPANY UNDER  SPECIFIC MANDATE
    * EXPECTS TO RECORD A GAIN ON THE DISPOSAL OF APPROXIMATELY
RMB1,653.1  MILLION


Further company coverage:  1797.HK 

 ((Reuters.Briefs@thomsonreuters.com;))