Hailiang Education Group, a China-based education and management services provider, has acquired Jinhua Hailiang Foreign Language School for ¥34 million (£3.9 million) from its affiliate Hailiang Education Investment Group.
The company has previously provided operational management services to Jinhua Hailiang Foreign Language School and is therefore familiar with the private non-profit school’s operations.
Following the acquisition, Hailiang Education will have a network of 13 affiliated schools.
Junwei Chen, chairman and chief executive of the business, said: “Based on the current development, we expect that JHFL will reach full capacity in student enrollment by fiscal year ending June 2022.”
The school was established in 2018, with funding from Hailiang Investment, which is an affiliate of Hailiang Education.
Chen said that the company would continuously look to acquire more schools from its affiliate companies and grow its network.
The Jinhua Hailiang Foreign Language School, which comprises primary and middle school offerings in Zhejiang, can accommodate up to 1,000 students.
Hailiang Education provides education services to primary, middle and high schools in China. It operates multilingual programmes, including in Chinese, English, Spanish, Japanese, Korean and French.
Date published: 21 September 2020