THE Being Educational (SEER3) informed that it acquired, through its subsidiary Cenesup (Centro Nacional de Ensino Superior), 100% of the share capital of a new company to be constituted by Educadora Sete de Setembro, which will maintain the Centro Universitário 7 de Setembro (UNI7), in Fortaleza (CE). The deal was concluded through a quota purchase and sale agreement.
In consideration for the assignment and transfer of quotas, Cenesup will pay up to R$10 million, of which R$5 million in cash, on the closing date of the transaction; and up to R$5 million, in 3 successive annual installments, adjusted by the CDI variation.
With more than 20 years of experience in higher education, UNI7 has around 1,600 students in undergraduate blended education courses and, in the last 12 months, recorded net revenue of approximately R$18 million.
The transaction is still subject to approval by the CADE (Administrative Council for Economic Defense) and the fulfillment of certain conditions precedent usual in similar operations.
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Source: Moneytimes
