MT Educare to acquire 51% stake in Lakshya Forum

India Infoline News Service | Mumbai |

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 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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