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00839 CHINA EDU GROUP
RTNominal down3.790 -0.130 (-3.316%)
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26/06/2019 15:54

China Education (00839) buys Chongqing university for Rmb1bn

[ET Net News Agency, 26 June 2019] China Education Group Holdings Limited (00839) said
it has agreed to acquire Chongqing Nanfang Translators College of Sichuan International
Studies University (Chongqing University) for RMB1.01 billion.
Chongqing University is a full-time undergraduate college established in 2001 with the
approval of the Ministry of Education and has been qualified to grant bachelor degrees
since 2011.
Currently, it has about 13,000 undergraduate students taking 33 undergraduate programs
including foreign languages, international economics and trade, hotel management,
advertising, Chinese international education, fine art, music performance, etc.
For the years ended 31 December 2017 and 31 December 2018, the net loss after tax of
Chongqing University amounted to RMB19.85 million and RMB4.01 million. (KL)

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