Curro acquires Cooper College and Magic Beings Crèche
1.1 The board of directors of Curro is pleased to advise shareholders that the Company has recently acquired Cooper College and Magic Beings Crèche (“Cooper College Acquisition”).
1.2 Curro has concluded a sale agreement on or about 4 April 2018 in terms of which it will acquire 100% of the issued share capital of Cooper College Proprietary Limited (“Cooper College”) and related businesses within the Cooper College group, including a well-established crèche, Magic Beings, and a number of immovable properties which are predominantly utilised by the Cooper College group for the purpose of carrying out its business operations.
1.3 The Cooper College Acquisition is subject to the fulfilment of certain conditions precedent, none of which are material or likely to impact the implementation of the transaction.
1.4 The Cooper College Acquisition is aligned with Curro’s intention to expand its geographical footprint in Gauteng and to extend its education offering.
1.5 Cooper College is a well-known private primary school that was established in 2008 and is situated in Randburg, Gauteng. It offers international education programmes and qualifications to learners from Grade 0 to Grade 7, currently comprising of approximately 1 000 enrolled learners.
1.6 Curro has plans to further develop the Cooper College campus and to construct a private high school for up to 650 learners.
The Cooper College Acquisition is uncategorised in terms of the JSE Listings Requirements, and the information contained in this announcement has been voluntarily disclosed by the Company. Source: Bloomberg