Affinity Education Group Limited
(ASX:AFJ) has entered into agreements to buy another 20 more child care centres for about $19 million.
The provider of education and child care services says the latest acquisitions will boost its total portfolio to 140 centres.
Affinity Education Group expects the acquisitions to be earnings per share accretive upon settlement, which is expected to occur over the coming weeks and months.
Settlements are however conditional on the completion of due diligence and securing landlord consents and regulatory approvals.
Affinity Education Group plans to fund its new purchases from the acquisition facility of $100 million.
Affinity Education Group reported a net loss of $5 million in the first half of the 2014 financial year.
