Moneycontrol
Last Updated : Apr 04, 2013 11:47 AM IST | Source: Moneycontrol.com

MT Educare to acquire 51% stake in Lakshya Forum

MT Educare has entered into Shareholders' Agreement dated April 1, 2013 with 'Lakshya' and its shareholders with respect to acquire 51% stake in Lakshya Forum for competitions, a leading North India based IIT Entrance teaching institute.

 
 
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MT Educare Ltd has informed BSE that the Company has entered into Shareholders' Agreement dated April 1, 2013 with 'Lakshya' and its shareholders with respect to acquire 51% stake in Lakshya Forum for Competitions Pvt. Ltd. ("Lakshya"), a leading North India based IIT Entrance teaching institute.Further, the Company has informed that 'Lakshya' holds 10 % stake in Lakshya Educare Private Limited (subsidiary of MT Educare Limited) a Special Purpose Vehicle ("SPV") created for the purpose of launching JEE advanced coaching services in Mumbai and rest of India. MT Educare Ltd. holds 90% stake in this SPV.Source : BSE

Read all announcements in MT Educare

First Published on Apr 4, 2013 11:47 am
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