G8 completes sale of 25 WA centres to Sparrow Early Learning
In an announcement released on 20 December 2019, G8 Education have confirmed that the sale of the 25 centres in Western Australia (WA) to Sparrow Early Learning announced in November 2019 has been completed.
The divestment will see G8’s network in WA fall to 42 centres and is expected to impact average regional and national occupancy metrics positively.
Post the transaction G8 will have around 492 centres in Australia.
The company also reconfirmed that the $6.4 million of proceeds will initially be used to repay debt with a view to ultimately recycling the proceeds into growth opportunities as they arise.
To read the announcement please click here.