UK markets close in 3 hours 20 minutes
  • FTSE 100

    7,585.30
    +12.25 (+0.16%)
     
  • FTSE 250

    19,381.84
    +218.51 (+1.14%)
     
  • AIM

    852.46
    +3.87 (+0.46%)
     
  • GBP/EUR

    1.1665
    +0.0081 (+0.70%)
     
  • GBP/USD

    1.2188
    +0.0126 (+1.05%)
     
  • BTC-GBP

    14,061.15
    +195.33 (+1.41%)
     
  • CMC Crypto 200

    406.35
    +5.66 (+1.41%)
     
  • S&P 500

    4,080.11
    +122.48 (+3.09%)
     
  • DOW

    34,589.77
    +737.24 (+2.18%)
     
  • CRUDE OIL

    81.55
    +1.00 (+1.24%)
     
  • GOLD FUTURES

    1,798.50
    +38.60 (+2.19%)
     
  • NIKKEI 225

    28,226.08
    +257.09 (+0.92%)
     
  • HANG SENG

    18,736.44
    +139.21 (+0.75%)
     
  • DAX

    14,525.22
    +128.18 (+0.89%)
     
  • CAC 40

    6,759.03
    +20.48 (+0.30%)
     

South Africa's ADvTECH expands schools business into east Africa

FILE PHOTO: Buildings housing the Varsity College, owned by Johannesburg-listed ADvTECH Group, are seen in Rondebosch, Cape Town, South Africa, September 22, 2017. REUTERS/Mike Hutchings (Reuters)

JOHANNESBURG (Reuters) - South African private education group ADvTECH <ADHJ.J> is buying a majority stake in a business that operates schools in Kenya and Uganda, it said on Tuesday, as part of a stated strategy to expand elsewhere in Africa.

Financial details of the deal were not disclosed.

ADvTECH, along with rivals at home and abroad, has been expanding in Africa, where rising incomes have created a pool of customers willing to pay for private education.

The company acquired a majority stake in Scholé Ltd, a London-based education group which has been operating in Kenya and Uganda for six years.

ADvTECH, which operates high-end schools such as Crawford and Trinity House in South Africa, said the deal would add nine schools, five campuses and about 4,100 students to its portfolio.

(Makes clear in paragraphs 1 and 4 that ADvTECH acquired a stake in Schole Ltd and did not directly buy the schools)

(Reporting by Patricia Aruo; Editing by MarkPotter)