Tree House Education to buy MT Educare's pre-schooling division
MDT/PTI 04 June 2012

Tree House Education that has a total of 302 pre-schools across 37 cities, would buy pre-schooling division of MT Educare

Mumbai: Tree House Education and Accessories Ltd, one of the leading providers of educational services said it signed a non-binding memorandum of understanding with MT Educare Ltd for buying the company's pre-school division comprising six centres at Mumbai and Pune, reports PTI.

No financial details were provided. The transaction will be closed after the usual due diligence, a company statement said.

Commenting on the development, Rajesh Bhatia, promoter and Managing Director, Tree House Education said, "Tree House wishes to utilize company assets more judiciously and we are happy to sign this agreement with MT Educare to acquire its pre-school divisions in Mumbai and Pune. These agreements will help the company in realising more revenue from the leased premises without any additional capital or manpower deployment."

The past six months have seen Tree House create substantial student intake capacity across the country, Bhatia said.

Tree House Education has a total of 302 pre-schools across 37 cities out of which 240 are self-operated.

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