Benzinga | Feb 24, 2021 06:22AM EST

Bright Scholar To Acquire 18% Equity Interests In Golden Ballet Dance

FOSHAN, China, Feb. 24, 2021 /PRNewswire/ -- Bright Scholar Education Holdings Limited ("Bright Scholar," the "Company," "we" or "our") (NYSE:BEDU), a global premier education service company, today announced that it entered into an agreement to acquire 18% equity interests in Golden Ballet Dance ("Golden Ballet"). The Company targets to close the transaction in April 2021, subject to the satisfaction of customary closing conditions and the completion of relevant corporate and regulatory procedures.

Established in 2009, Golden Ballet has been teaching classical ballet to over 60,000 children across its 33 training centers in China for the past ten plus years.

"Ballet is widely considered the most beneficial dance form for body's structural and muscular placement. Golden Ballet provides high caliber of ballet training and both companies share the same value and take children's development and well-being as our top priority," said Zi Chen, Chief Executive Officer of Complementary Education Services. "The investment in Golden Ballet offers tremendous market opportunities as well as synergies that will further expedite the expansion of our complementary education business."