SPH invests $12 million for stake in MindChamps preschool

Mr David Chiem, founder and chief executive officer of MindChamps Preschool, with children at the pre-school’s branch in Paragon on Nov 28, 2013. Singapore Press Holdings has bought a stake in the pre-school and enrichment provider. — PHOTO: ST FILE

SOURCE: Singapore Press Holdings (SPH)

SINGAPORE – Singapore Press Holdings (SPH) has bought a stake in preschool and enrichment provider MindChamps Holdings.

This marks the media company’s first investment into the education business.

SPH told the Singapore Exchange in a statement on Aug 20 that its unit has paid around $12 million in cash for 110,000 shares in MindChamps Preschool (Worldwide).

That works out to a 22 per cent stake in the firm, which operates and franchises early childhood education and enrichment programmes, SPH said.

– See more at: http://www.straitstimes.com/news/business/companies/story/sph-invests-12-million-stake-mindchamps-preschool-20140820#sthash.GCKf6z3g.dpuf

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