Raffles Education unit to sell stake in China university operator for 420m yuan
Vivienne Tay
Singapore
RAFFLES Education Corp is selling its 51 per cent stake in China university operator Langfang Development Zone Oriental University City Sino-Singapore Education Investment Co for 420 million yuan (S$84.6 million) to an individual, Liu Yanwen.
The sale will be made through Raffles Education's subsidiary, Langfang Tonghui Education Consultancy Co, which holds the entire beneficial interest in the equity interest in Langfang Development Zone Oriental University City Sino-Singapore Education Investment through Mr Liu.
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