In 2010, Raffles Education managed to court Khazanah Nasional - the equivalent of Temasek in Malaysia - into taking a 10% stake in subsidiary Oriental University City Ltd (OUC), but per this evening's (2Sep13) announcement this mismatched business relationship is going to break up, and for Raffles Education that means going back to square one.....
http://infopub.sgx.com/FileOpen/REC-Anno...eID=254941
Worst of all, Raffles Education now has to come out with a total of RMB400.0m (including a RMB100.0m "break fee") in cash to buy back the stake!
http://infopub.sgx.com/FileOpen/REC-Anno...eID=254941
Worst of all, Raffles Education now has to come out with a total of RMB400.0m (including a RMB100.0m "break fee") in cash to buy back the stake!
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