Partnership9 May 2024, 02:35 am
Navneet Education Limited: Navneet Learning LLP Partially Exits K12 Techno Services Private Limited for INR 225.18 crores
AI Summary
Navneet Education Limited's subsidiary, Navneet Learning LLP, has entered into a definitive agreement to sell its 5.12% stake in K12 Techno Services Private Limited to Venturi Partners for INR 225.18 crores. Navneet Learning LLP will continue to hold a 14.35% stake in K12 Techno, and Navneet Education Limited holds a 93.0% stake in Navneet Learning LLP. Gross proceeds from the deal are INR 225.18 crores.
Key Highlights
- Navneet Learning LLP sells 5.12% stake in K12 Techno to Venturi Partners.
- Consideration is INR 225.18 crores, and Navneet Learning LLP continues to own 14.35% of K12 Techno.
- Navneet Education Limited holds a 93.0% stake in Navneet Learning LLP.
- EY acted as the exclusive financial advisor on the transaction. The deal is subject to necessary closing obligations.