Hotbuns wrote a post · Nov 22, 2023 00:34

EAST BUY to Sell Education Biz to Parent Co., Expects to Record RMB1.65B Gain

$EAST BUY(01797.HK)$ announced that the Board of the Company approved the proposed disposal of the Education Business to $NEW ORIENTAL-S(09901.HK)$ , the parent company of the Company, for a cash consideration of RMB1.5 billion.

The Company currently expects to record a gain on the Disposal of approximately RMB1.653 billion. The Education Business comprises the entire equity interest of Dongfang Youbo (HK) Education Limited, Beijing Kuxue Huisi Network Technology Co., Ltd., and Xi’an Ruiying Huishi Network Technology Co., Ltd., the announcement added.

$New Oriental(EDU.US)$ $Mainland Education(BK2124.US)$ $Online Education(BK1193.HK)$ $SCHOLAR EDU(01769.HK)$ $TAL Education(TAL.US)$

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