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BRIEF-Intueri Education updates on acquisition of the New Zealand Institute Of Sport (NZIS)

Published 23/07/2015, 06:35 am
© Reuters.  BRIEF-Intueri Education updates on acquisition of the New Zealand Institute Of Sport (NZIS)

July 22 (Reuters) - Intueri Education Group Ltd IQE.NZ :

* Further increased its scale and diversity with the acquisition of the New Zealand Institute Of Sport (NZIS)

* Says purchase price will be 5.5 times expected 2016 EBITDA; expects total consideration of NZ$19.25 mln

* 2016 EBITDA is forecast to be approximately NZ$3.5 mln, which would equate to a total consideration of NZ$19.25 mln

* An initial payment of NZ$17.6 mln, funded from intueri's current debt facilities upon completion

* All key senior staff are expected to stay on in their current roles

Source text for Eikon ID:nNZW2RPzzM

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