Collins Acquisitions brokers Geelong centres

The directors of G8 Education Limited (ASX: GEM) are pleased to announce the settlement of Treehouse Geelong and Bellnore Drive childcare and education centres. The childcare and education centres are located in Geelong.

The purchase price for the two centres was $4.8 million which represents 4 times anticipated EBIT for the 12 months post settlement. $4.4 million is payable at settlement and a further payment of $0.4 million is conditional upon the centre based EBIT target being achieved in the 12 months post settlement.