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China New Higher Education's Entity Sells Higher Education Wing

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China New Higher Education Group's (HKG:2001) affiliated entity Beijing Daai Shuren Education Consulting sold Songming Xinju Enterprise Management, according to a Friday Hong Kong bourse filing.

Purchaser Guangxi Yinghua Haian Education Investment will acquire the target for 359.5 million yuan.

The school operator will use proceeds as working capital.

Following completion, the target firm, which is the sole shareholder of the Qinzhou Yinghua Datang Education Investment, mainly engaged in private formal higher education, will cease to be a unit of China New Higher Education.

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