AFJ affinity education group limited

News: Affinity Education buying 51 centres for $8

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    Affinity Education Group Limited (ASX:AFJ) has expanded its portfolio through the proposed acquisition of 51 centres for $80 million. 

     


    The provider of education and child care services says the acquisitions deliver significant benefits through increased scale, earnings and geographic diversification. 




    Affinity Education Group plans to fund the deal through a combination of an entitlement offer, issue of shares to vendors and a draw-down of debt. 




    The latest acquisition comes after Affinity Education Group last month inked deals to acquire seven childcare centres for about $8 million. 




    Affinity Education Group reported a net loss of $8.8 million in the full 2013 calendar year. 

 
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