G8 Education Expands
Livewire
G8 Education Expands. Queensland childcare operator G8 Education is set to acquire 20 childcare and education centres for a purchase price of $37 million.The acquisition will be funded by an equity raising of approximately $100m. G8 shares were placed in a trading halt this morning pending the announcement of the raising. The company has entered contractual arrangements with each of the vendors, pending licensing and landlord approvals, and expects the acquisitions to settle by the end of February 2015. 17 of the 20 centres were bought for $24.35m representing 3.98 times anticipated earnings before interest and tax (EBIT) for 12 months, while three centres were acquired for $12.35m, figuring 6.19 times anticipated 12-month EBIT. (VIEW LINK)
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Livewire News brings you a wide range of financial insights with a focus on Global Macro, Fixed Income, Currencies and Commodities.
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