HK-listed Minsheng to buy TCL's online education unit for $59m

HK-listed Minsheng to buy TCL's online education unit for $59m

Chinese education services provider Minsheng Education Group is acquiring TCL Educational Web from TCL Technology, an affiliate of state-backed electronics maker TCL Corporation, for 420 million yuan ($59 million).

Minsheng Education Technology, a wholly-owned subsidiary of Minsheng, will purchase over 5.52 million shares in TCL Educational Web, said the seller in a filing with the Hong Kong Stock Exchange (HKEX) on Wednesday.

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