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.

Brimstone Investment Corporation Limited (JSE:BRT) and Stadio Holdings Limited (JSE:SDO) completed the acquisition of Milpark Education Proprietary Limited from MBS Education Investments Proprietary Limited on March 19, 2018.