SEEK pays $118.5M to boost its ownership of OES

Company News

by David Chau

SEEK Ltd (ASX:SEK) has signed a deal to invest $118.5 million in Online Education Services (OES) – boosting its stake from 50% to 80%.

After this deal, Swinburne University of Technology’s stake in OES will drop from 50% to 20%.

OES is a joint venture between SEEK and Swinburne, and provides online education to the 9,500 plus students currently enrolled.

OES will be consolidated into the SEEK Group’s financial statements, and the transaction is expected to be earnings per share accretive in FY18.

Yesterday, SEEK shares closed 1.49% higher at $14.96. 

David Chau

Finance News Network
David joined FNN in April 2016. In addition to presenting the Market Outlook and latest business news stories, David interviews senior economists and CEOs of ASX-listed companies. Prior to working for FNN, David was a litigation lawyer.