BAI - Divestment of education group

Being AI Limited (NZX: BAI ) is pleased to advise that it has divested its education group, Being Education, to Crimson Education Group. This strategic move eliminates from the group education group debt of approximately $3.9m due to Wilshire Treasury, and related trading liabilities, resulting in a significantly strengthened balance sheet for BAI.

This transaction is a result of the ongoing strategic review of the BAI group by the BAI Board. The review of Being Education concluded that, without considerable further investment, the operations were unlikely to yield a future positive return. Therefore, divestment was determined to be in the best interests of maximising value for all BAI shareholders.

In turn, the schools and their communities will benefit from Crimson Education Group’s proven and innovative approach to education.

BAI Chair, Michael Stiassny noted that the strategic review of remaining BAI group entities is ongoing with further market announcements anticipated in due course.

[ends]

• Divestment of education group

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

July 29th Morning Report
General Capital Annual Shareholders Meeting Results
MEE - Receivers and Liquidators appointed to King Honey
2 Cheap Cars Group Updates Performance Outlook for FY26
Spark announces Director changes as part of Board renewal
July 28th Morning Report
KMD Brands announces new Group Chief Financial Officer
Commerce Commission to issue SOI re Viridian application
FBU - Moody's affirms FBU Baa3/stable rating
Contact Energy FY25 Financial Results Presentation