Ekuinas upbeat on Ilmu deal

PETALING JAYA: Ekuiti Nasional Bhd (Ekuinas) said the proposed buyout of three education institutions by wholly owned Ilmu Education Group Sdn Bhd for RM362mil will strengthen the group.

Ekuinas in September last year said it would back Ilmu’s expansion as the company prepared for a listing on Bursa Malaysia in 2016.

“With education constituting nearly 27% of our investment portfolio to date, we are pleased to be able to undertake this buy-out of the minority shareholders in three of our institutions,” its chairman Raja Arshad Raja Tun Uda said in a statement.

“Ekuinas is aggressively executing its value creation plans for our education portfolio under Ilmu and this next step is a natural progression towards achieving our vision for Ilmu,” he added.

Read more: HERE

Source: The Star Online, 18 March 2016