考虑到中国幼儿教育的政策及市场环境，集团原本透过MAG的澳洲教育系统及商业模式支持中国幼儿教育相关业务大规模发展的目标可能无法于短期内实现。因此，基于集团业务发展的整体布局，该等交易将更符合公司股东的整体利益。此外，于该等交易后，集团及MAG将继续探索更符合双方各自利益的新合作方式。On November 8th, Greentown Ser (02869.HK) announced that on November 8, 2024, the seller Greentown Education Investment Co. Ltd (a wholly-owned subsidiary of the company) and the buyer Montessori Academy Pty Ltd (as the trustee of the Montessori Academy reits) entered into a share sale agreement, whereby the seller agreed to sell and the buyer agreed to purchase the shares, equivalent to approximately 11.64% of MAG's issued share capital, for a price of 16.2 million Australian dollars. On the same day, as part of the share sale agreement, the seller and MAG entered into a repurchase agreement, whereby the seller agreed to sell and MAG agreed to repurchase the shares, equivalent to approximately 10.78% of MAG's issued share capital, at a repurchase price of 15 million Australian dollars. The sale and repurchase transactions are interdependent.
Upon completion of the sale and repurchase transactions, the seller will hold approximately 35% of MAG's then issued share capital, and MAG will no longer be a subsidiary of the company. MAG's financial performance will no longer be consolidated into the group's financial statements.
MAG is a limited company registered in australia. As of the date of this announcement, the seller, management shareholders, the buyer, and CCA Investment Group Pty. Ltd. hold approximately 53.90%, approximately 3.75%, approximately 21.92%, and approximately 20.43% equity, respectively. It mainly provides education and childcare services for infants (0-2 years old), toddlers (2-3 years old), and preschool children (3-6 years old) based on the Montessori curriculum and system, and provides daily teaching. Currently, it operates over 55 childcare centers in australia.
Considering the policies and market environment of china's early childhood education, the group's original goal of large-scale development of china's early childhood education related business through MAG's australian education system and business model may not be realized in the short term. Therefore, based on the overall layout of the group's business development, these transactions would be more in line with the overall interests of the company's shareholders. In addition, after these transactions, the group and MAG will continue to explore new collaborative ways that are more aligned with the respective interests of both parties.
