Zee Learn to acquire controlling stake in MT Educare for $30m

201802.16
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Essel Group’s education unit Zee Learn is acquiring a controlling stake in MT Educare Ltd for Rs200 crore. In a stock exchange filing, Zee Learn said that it has signed a definitive agreement to invest Rs200 crore in MT Educare through a preferential allotment for a 44.53% stake. MT Educare, in a separate filing said that it will issue preferential shares to Zee Learn at Rs62.57 per share for this transaction.

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