Bright Scholar, the New York-listed China-based private school operator, has acquired a minority stake in a ballet school.
The international education provider, which owns several independent schools in the UK, has bought an 18% stake in Golden Ballet Dance.
Established in 2009, Golden Ballet Dance has taught more than 60,000 students across its 33 centres in China over the past decade, Bright Scholar said in a statement.
“Ballet is widely considered the most beneficial dance form for body’s structural and muscular placement. Golden Ballet provides high calibre of ballet training and both companies share the same value and take children’s development and well-being as our top priority,” said Zi Chen, chief executive of Complementary Education Services. “The investment in Golden Ballet offers tremendous market opportunities as well as synergies that will further expedite the expansion of our complementary education business.”
The terms of the transaction, which aims to close in April, were not disclosed.
Year-to-date, Bright Scholar’s share price is up 12%.
Date published: 25 February 2021