MT Educare has received an approval for entering into a confidentiality, exclusivity and standstill agreement to evaluate a potential strategic collaboration by way of a scheme of arrangement or any other suitable structure between MT Educare and Nspira Management Services. The board of directors at its meeting held on March 6, 2017 has approved for the same.
The agreement provides for a mutually agreed exclusivity period for due diligence and discussions between MT Educare and Nspira Management Services in relation to the proposed transaction. Current discussions are at preliminary stage. The proposed arrangement or structure shall be subject to due diligence, agreement on appropriate transaction structure, board, shareholder, regulatory, NCLT and any other third party approvals, as may be applicable.
MT Educare is an education service company providing education support and coaching services. The company operates through conducting commercial training, coaching, tutorial classes and activities incidental and ancillary segment. Its business segments include School Section, Science Section, Commerce Section/University etc.