MindChamps acquires 4 preschool centres in Sydney for A$13m

MAINBOARD-LISTED preschool operator MindChamps PreSchool has entered into sale and purchase agreements for four early learning centres in Sydney, Australia for approximately A$12.9 million (S$13 million), it said on Wednesday.

The learning centres are in the suburbs of Ropes Crossing, Lane Cove, West Hoxton and Penrith.

When the acquisitions are completed, MindChamps will have eight early childcare centres and two reading and writing centres in Australia.

Earlier in April, MindChamps and a Temasek Holdings unit inked a deal to co-invest in the MindChamps PreSchool Global Fund. The fund will invest, directly or indirectly, in local education fund products to buy and set up schools run under the MindChamps brand.

MindChamps shares closed S$0.01 or 1.2 per cent lower at S$0.815 on Wednesday.