Brimstone Investment Corporation Limited and Stadio Holdings Limited agreed to acquire Milpark Education Proprietary Limited from MBS Education Investments Proprietary Limited for ZAR 320 million.

Brimstone Investment Corporation Limited (JSE:BRT) and Stadio Holdings Limited (JSE:SDO) agreed to acquire Milpark Education Proprietary Limited from MBS Education Investments Proprietary Limited for ZAR 320 million on October 12, 2017. After completion, Brimstone will hold 30% and Apollo will hold 70% in Milpark. The aggregate purchase consideration will be subject to standard non-material closing date adjustments.

The deal is subject to certain conditions. Closing is expected to occur in February, 2018. PSG Capital Proprietary Limited acted as transaction advisor and sponsor.