Navitas Limited (ASX:NVT) has expanded its Swansea University agreement through its college, the International College Wales Swansea (ICWS).
The education provider says facility will now be known as ‘The College’ and move to a joint venture model between Navitas and the University.
The transfer will be completed early 2018 and result in a one-off, non cash gain in the profit and loss of Navitas for FY18.
The College aims to provide an expanded curriculum, deliver more pre-Masters programs, offer distance learning and short term vocational oriented programs and offer 411 bed on-campus student accommodation.
Shares in Navitas Limited (ASX:NVT) last traded 0.45 per cent lower on Friday to $4.41.