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G8 EDUCATION LIMITED — M&A Activity 2012
Sep 23, 2012
64978_rns_2012-09-23_809d303c-5c2a-4f3e-8fac-d615d31cdb52.pdf
M&A Activity
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ASX Announcement
G8 Education Limited (ASX:GEM)
24 September 2012
Contracts to acquire 16 premium childcare and education centres
Listed Queensland-based childcare and education centre operator G8 Education Limited (ASX: GEM) is pleased to announce that it has contracted to acquire 16 premium childcare and education centres from a number of different vendors. The childcare and education centres are located in Victoria and Queensland.
Business acquisition contracts have been executed, conditional upon customary licensing approvals and finance. Subject to these conditions being satisfied the acquisitions are expected to settle before the end of November 2012.
The total purchase price for the 16 centres is $28 million, payable at settlement, which represents 4 times anticipated EBIT for the 12 months post settlement.
G8 Education Limited Managing Director, Chris Scott, said: “The acquisition of these 16 premium centres is significant to G8 Education’s expansion and will add in excess of 1400 licensed places to the Group. The 16 centres are expected to contribute to EBIT immediately upon settlement.”
ENDS Chris Scott Managing Director
G8 Education Limited | ACN 123 828 553 A Suite 27 Pegasus Centre, 42 Bundall Road, Bundall QLD 4217 P PO Box 7092 Gold Coast MC QLD 9726 P 07 5581 5300 F 07 5581 5311 W www.g8education.com E [email protected]