Noah Education (NED) Completes Acquisition of Little New Star Education Group
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Noah Education Holdings Ltd. (NYSE: NED) today announced the completion of its acquisition of 100% interest in Little New Star Education Group, a Changsha-based private education service provider that specializes in providing English language training for kids, pursuant to the terms of definitive agreements entered into on May 22, 2009.
The total consideration of the acquisition is RMB113 million, comprised of a combination of cash and stock. Noah expects the newly acquired business to contribute between RMB 13-15 million to net profit in fiscal year 2010.
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