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Lereno Bio-Chem to venture into education with S$20.4m investment
BIOFUELS company Lereno Bio-Chem plans to expand into the education business with a S$20.4 million investment in a private education company.
Lereno said that it will use cash and shares to buy a 51 per cent stake in HTwo Education Holdings from two existing shareholders who currently hold a combined 71 per cent stake in the education business. The cash component of the consideration will be funded through a rights issue and private placements, the company said.
HTwo runs a range of education businesses, including infant and childcare services, student care, tuition and enrichment businesses.
The company is still conducting due diligence investigations, and a definitive agreement has not been finalised.
Lereno shares last traded at 0.4 Singapore cent on Monday, before trading was halted.