2nd December 2013 - G8 Education settles 23 centres

The directors of G8 Education Limited (ASX: GEM) are pleased to announce settlement of Aladdin, Iddy Biddy, Nurture One and Just Us Kids Early Education Centres. The acquisitions were originally announced to the ASX on 27 September 2013. There are no more acquisitions to settle from the ASX announcement dated 27 September 2013.

The purchase price for the 23 centres was $27.2 million upfront at settlement including transaction costs. The acquisition was acquired on 4 times EBIT.

The acquisition was funded from existing cash reserves.