June 4, 2012 6:09:10 pm
Tree House Education and Accessories Ltd,one of the leading providers of educational services has signed a non-binding Memorandum of Understanding with MT Educare Ltd for the transfer of ‘MT Educare Ltd.
Pre-School division’ comprising six company-operated centers are located at Mumbai and Pune. The transaction will be closed after the usual due diligence,a company statement said here.
Commenting on the development,Rajesh Bhatia,promoter and Managing Director,Tree House Education said,”Tree House wishes to utilize company assets more judiciously and we are happy to sign this agreement with MT Educare to acquire its pre-school divisions in Mumbai and Pune. These agreements will help the company in realising more revenue from the leased premises without any additional capital or manpower deployment.”
The past six months have seen Tree House create substantial student intake capacity across the country,Bhatia said.
Tree House Education has a total of 302 pre-schools across 37 cities out of which 240 are self-operated.
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