According to Blue Whale Education, OnlyEducation (600661.SH) has recently adjusted the acquistion plan of South Korea-based Chungdahm Learning's(CDL) equity. The company also planned to purchase the equity of CDL in two phases. The estimated transaction amount of two deals is set to be no more than 78.406 million yuan.
CDL, established in 1988, mainly focused on product research and teaching of K-12 English and mathematics courses. Its business includes offline direct schools, franchise business and online courses. Its operating areas are mainly in South Korea, Southeast Asia and other countries and regions. In 2008, CDL was listed on the Korean stock exchange KOSDAQ.
OnlyEducation suggested that the acquisition of CDL's equity is conducive to the company’s development in K-12 English language learning sector. Also, this acquisition can promote long-term, stable development in the company’s English language learning and other subject tutoring business.
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