ADvTECH Acquires Monash South Africa For 343m Rand

The Independent Institute of Education, a unit of ADvTECH, has agreed to terms of a proposed transaction with Monash South Africa and LEI AMEA Investments BV, which will see ADvTECH acquiring control of the Monash South Africa business and Laureate SA.

* Acquisition is subject to conditions, including approval of Competition Commission, Dept of Higher Education and Training and Council on Higher Education

* Acquisition will bring ADvTECH’s tertiary student complement to more than 40,000 full-time and 30,000 distance students

* Effective date seen Jan. 1, 2019

* Transaction consideration is 343m rand million, plus cash on hand and working capital adjustments at effective date; a maximum consideration of 500m rand has been agreed. Source: Bloomberg