BRIEF-East Buy Holding Announces Disposal Of Education Business To New Oriental

Reuters2023-11-21

Nov 21 (Reuters) - East Buy Holding Ltd :

* APPROVED DISPOSAL, BEING THE PROPOSED DISPOSAL OF THE EDUCATION BUSINESS TO PARENT COMPANY, NEW ORIENTAL

* DEAL FOR RMB1.5 BILLION

* NEW ORIENTAL IS CONTEMPLATING A POTENTIAL SUBSCRIPTION OF NEW SHARES IN THE COMPANY UNDER SPECIFIC MANDATE

* EXPECTS TO RECORD A GAIN ON THE DISPOSAL OF APPROXIMATELY RMB1,653.1 MILLION

Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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