SINGAPORE (Nov 10): Singapore Press Holdings is increasing its stake in MindChamps Preschool.

On Thursday, wholly-owned subsidiary Invest Learning signed a sale and purchase agreement to acquire an additional 4.84% entered in MindChamps Preschool, formerly known as MindChamps Preschool (Worldwide), from MindChamps Holdings.

Invest Learning currently holds a 22% stake in MindChamps Preschool. Following the transaction, Invest Learning’s interest in MindChamps Preschool will increase to 26.84%.

The consideration of the acquisition is $3.96 million which will be satisfied in cash.

MindChamps Preschool is in the business of owning and operating and/or franchising the operation of infant care centres for children from two to 18 months old; and preschools for children from 18 months to six years old.

Shares in SPH closed 1 cent higher at $2.70 on Friday.