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MT Educare to acquire 51% stake in Lakshya Forum

Further, the Company has informed that 'Lakshya' holds 10 % stake in Lakshya Educare Private Limited (subsidiary of MT Educare Limited) a Special Purpose Vehicle ("SPV") created for the purpose of launching JEE advanced coaching services in Mumbai and rest of India.

April 04, 2013 10:34 IST | India Infoline News Service

MT Educare Ltd has announced that the Company has entered into Shareholders' Agreement dated April 1, 2013 with 'Lakshya' and its shareholders with respect to acquire 51% stake in Lakshya Forum for Competitions Pvt. Ltd. ("Lakshya"), a leading North India based IIT Entrance teaching institute.

Further, the Company has informed that 'Lakshya' holds 10 % stake in Lakshya Educare Private Limited (subsidiary of MT Educare Limited) a Special Purpose Vehicle ("SPV") created for the purpose of launching JEE advanced coaching services in Mumbai and rest of India. MT Educare Ltd. holds 90% stake in this SPV

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