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Zee Learn has signed an agreement, to acquire 44.53% stake in MT Educare via preferential allotment of equity shares. Zee Learn will be investing Rs.200 crore for the acquisition.
The company in a statement said, “The execution of definitive agreements has triggered the requirement to make an open offer and the regulations therewith will be complied.” The transaction is subject to fulfillment of customary closing conditions and regulatory approvals.
Debshankar Mukhopadhyay, CEO Zee Learn stated, “The acquisition of MT Educare is aligned with our strategy to increase our footprint across segments in the education sector and consolidate our offerings through the digital route.”
Further, post acquisition, Zee Learn’s education offerings on a consolidated basis will be reaching approx 3.50 lakh students.
