SINGAPORE (Apr 8): MindChamps Preschool Limited is acquiring eight more early learning centres in Sydney, Australia, for a total of A$40.84 million ($39.3 million) from Malek Family Pte Ltd and Malek Group Investments Pty Ltd.

The centres are located across six suburbs of the city, namely: Mascot, Parramatta, Albion Park, West Hoxton, Kemps Creek and Shellharbour.

<hr/><a href="https://www.theedgesingapore.com/" >See: MindChamps 2Q earnings double to $1.3 mil on higher revenue; to acquire 2 preschool centres in Sydney</a><hr/>

<hr/><a href="https://www.theedgesingapore.com/" >See: MindChamps acquires 4 preschool centres in Sydney for $13.1 mil</a><hr/>

In a Sunday filing, MindChamps says its latest acquisition is expected to have a significant positive impact on its earnings per share (EPS) for the current financial year.

This will bring the group’s early learning centres in Australia to 20, and a total of 82 preschool and enrichment centres globally, it adds.

<span class='see_also_inread'><b>See also: <a class='gtm_see_also_1_inread' style='text-decoration: underline;' href='/news/ma/great-eastern-set-acquire-ammbs-insurance-arm?utm_source=website&utm_medium=article&utm_campaign=ONPAGESEO'>Great Eastern set to acquire AMMB's insurance arm </a></b></span>

The acquisition will be funded through a combination of cash raised from MindChamps’ IPO proceeds as well as an acquisition loan.

"MindChamps began as a research team in Sydney in 1998, and now, having proven the success of our breakthrough early childhood education model, I am proud to be able to bring it back to Australia where it first began, to make a difference to the development of young minds here,” says David Chiem, founder, CEO and executive chairman of the group.

Shares in MindChamps closed 0.76% lower at 65 cents on Friday.

MindChamps acquires 8 more Sydney preschool centres for $39.3 mil

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MindChamps acquires 8 more Sydney preschool centres for $39.3 mil

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