Educomp Solutions today said that it has executed definitive agreements to sell its entire 50 per cent shareholding in Eurokids International to a group of financial investors led by GPE India, a leading investor in education.With this, Educomp Solutions will exit the Eurokids International.
EuroKids International is one of the largest education services provider in the pre-school segment and runs a pre-school chain. It is also one of India's largest book publishing companies for children.
In a filing to the stock exchanges, Educomp Solutions said that the transaction completion is subject to fulfillment of customary conditions precedents. "Appropriate announcement shall be made on deal completion," said the company.
Post this announcement, Educomp stocks hit an intra day high of Rs 154.40 and closed at Rs 149.85 on the Bombay Stock Exchange, up by 3.2 per cent from previous day's close.
