Private higher education group China New Higher Education Group has acquired the remaining 10% equity interest of Songming Xinju, the sole shareholder of Guangxi Schools, for ¥64 million (£7.1 million).
China New Higher Education completed a 51% equity interest acquisition of Guangxi Schools in January 2019 and a second acquisition of 39% last July.
Guangxi Schools is a full-time higher vocational education college approved by the Ministry of Education which provides more than 30 majors covering preschool education, nursing, e-commerce, and computer network technology.
China New Higher Education Group’s chairman Li Xiaoxuan said: “This acquisition of the remaining 10% minority interest of Guangxi Schools reflects the group’s determination to maintain the development direction of vocational education. We will further increase our investment in Guangxi schools, give full play to the advantages of the group, strengthen the internal construction, further enhance the strength of school operation and the level of education and teaching of Guangxi Schools, and continue to provide more highly qualified technical and skilled personnel to the society so as to serve the local economic and social development.”
Date published: 1 June 2021