Recently, the first control group issued a notice saying that its wholly-owned subsidiary first controlled Australia to establish an investment intention agreement with the Australian exchange-listed company G8 Education through the establishment of a trust.
According to the trust agreement issued on the 19th, Hui Li Asset Management (as the trustee) and the first Australian (as the initial manager) established the trust “First Capital Australia Education Master Fund†(trusted by the First Capital Australia Education Master Fund). 80 years.
The trust statement stated: It is assumed that all units (not less than 212 million units) are issued by the company as expected, and the subscription price per share is 1.00 Australian dollars. Shoukong Australia will subscribe for 63,841,784 shares (100% of Huifa Asset Management Issues, accounting for 30% of Australia), and the total amount payable is A$63,841,784 (approximately HK$381.14 million). The Shoukong Group will fund its contribution with its internal resources by February 24, 2017.
According to the announcement issued by G8 Education today, Shougang Group has agreed to subscribe for 54.85 million ordinary shares of G8 Education through the “Australian Education Fund†at a price of 3.88 AUD per share for a total price of approximately A$213 million (approximately HK$1,266 million).
Upon completion of the transaction, the first Australian Education Fund will hold 12.45% of the issued shares of G8 Education, becoming the largest shareholder of G8 Education, and will be represented on the G8 Education Board as a non-executive director.
In May 2016, Shenzhen Shoukong International Business Consulting Co., Ltd., a subsidiary of China Shougang Group, acquired 70% equity of Kunming Art Vocational College and 51% equity of Jinan Century Yinghua Experimental School from independent third parties.
In June 2016, Shoukong Group acquired 106 million shares of foreign education shares for HK$402.8 million, equivalent to approximately 3.43% of the total issued share capital of Chengshi Education.
In December 2016, Shoukong Fund Management Co., Ltd., a wholly-owned subsidiary of Shougang Group, entered into a partnership agreement with a limited partner to establish Zhuhai Shouzhi Education Industry Investment Fund (Limited Partnership) to engage in education project investment.
At the end of December 2016, Shoukong Group and U.S. Collaborative M&A Capital Co., Ltd. jointly launched a “co-primary education fund with a total size of US$1 billion†to invest in enterprises and assets in the education industry.
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