Affinity Education Group Limited
(ASX:AFJ) has expanded its portfolio through the proposed acquisition of 51 centres for $80 million.
The provider of education and child care services says the acquisitions deliver significant benefits through increased scale, earnings and geographic diversification.
Affinity Education Group plans to fund the deal through a combination of an entitlement offer, issue of shares to vendors and a draw-down of debt.
The latest acquisition comes after Affinity Education Group last month inked deals to acquire seven childcare centres for about $8 million.
Affinity Education Group reported a net loss of $8.8 million in the full 2013 calendar year.
