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Education & Training Services M&A image Education & Training Services M&A » By The Online Investor Staff, updated Thu., May. 26, 12:26 AM Recent mergers and acquisitions in the Education & Training Services M&A category.

Slide #8. Loyalist Group Limited King George International College & King George International Business College

Acquirer: Loyalist Group Limited (LOY.CA)
Acquiree: King George International College & King George International Business College
Details: CIBT Education Group Inc. (TSX: MBA/U.S OTCQX:MBAIF) ("CIBT" or "Company") is pleased to report that it has signed a definitive agreement with Loyalist Group Limited ("Loyalist") (TSXV.LOY) to sell one of CIBT's subsidiaries, King George International College & King George International Business College (collectively "KGIC"), for $13.5 million, subject to certain adjustments. The purchase price in this all cash transaction is payable in two installments, $9.5 million on closing and $4 million six months from the closing date. Closing is expected to occur shortly. Included in the purchase and sale agreement is a binding term sheet setting out the material terms of a business arrangement between Loyalist and CIBT under which CIBT will continue operating all KGIC operations in China as exclusive licensee.

Loyalist Group owns and operates private education schools both in Toronto and Vancouver offering (i) English as a Second Language Courses for international students; (ii) Training programs for teachers, commonly known as TESL; (iii) Professional Development Courses; and (iv) Corporate English for Professionals.

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Company Name: 
Loyalist Group Ltd
Website: 
www.loyalistgroup.com
Sector: 
Education & Training Services
 

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