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BRIEF-Affinity Education Group announces heads of agreement with Anchorage

Published 24/08/2015, 02:27 pm
© Reuters.  BRIEF-Affinity Education Group announces heads of agreement with Anchorage
AFJ
-

Aug 24 (Reuters) - Affinity Education Group Ltd AFJ.AX :

* Says entered into a heads of agreement with Anchorage capital partners pty

limited (Anchorage) following completion of material commercial diligence by

Anchorage.

* Says Affinity directors recommend that shareholders reject the g8 offers

* Says deal for $208.3 million and Affinity will return $0.90 cash per share to

Affinity shareholders

* Anchorage childcare will acquire all of the assets and business of Affinity

* Directors unanimously recommend that Affinity shareholders reject both the

share offer and the cash offer

* To reject the g8 offers, do not respond and do nothing in relation to any

documents sent by g8

* Affinity and Anchorage will seek to negotiate and enter into binding

transaction documents by 21 September 2015

* Affinity has entered into a period of exclusivity with Anchorage up to 21

September 2015

* Ceased discussions with other interested parties

* Source text for Eikon ID:nASX3MZ5Vy

*

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