G8 Education snaps up 19 childcare centres for $27m

Company News

by Jessica Amir

G8 Education (ASX:GEM) has acquired 19 early education and childcare centres for $27 million.

The childcare services provider has acquired a portfolio of six new centres in Queensland, five in New South Wales and eight in Victoria.

The centres are expected to contribute approximately $1 million in EBIT for the FY2017.

The acquisition represents a 3.75 multiple of its $7.2 million EBIT.

Shares in G8 Education (ASX:GEM) closed flat at $3.77.

 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.