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Education support and coaching services firm MT Educare today said it is evaluating a potential strategic collaboration with Nspira Management Services.
“The board of directors of MT Educare Ltd, at its meeting held on March 6, 2017, approved entering into confidentiality, exclusivity and standstill agreement to evaluate a potential strategic collaboration by way of a scheme of arrangement or any other suitable structure between MT Educare and Nspira Management Services Pvt,” MT Educare said in a BSE filing.
“The agreement provides for a mutually agreed exclusivity period for due diligence and discussions between MT Educare and Nspira Management Services Private in relation to the proposed transaction.”
The company added that the current discussions are at a preliminary stage.
The proposed arrangement or structure shall be subject to due diligence, agreement on appropriate transaction structure, board, shareholder, regulatory, NCLT and any other third-party approvals, as may be applicable.
The stock of MT Educare was trading 1.40 per cent lower at Rs 95 on the BSE.
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