Corinthian Colleges to sell 12 Canadian schools for $7.4 million Canadian |
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Published
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Fri, 14 Dec 2007 13:53
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NEW YORK (Thomson Financial) - Corinthian Colleges Inc. Friday said it has agreed to sell 12 Canadian schools to a subsidiary of Eminata Group for $7.4 million Canadian.The agreement is subject to a negative working capital adjustment to be made at closing, which is expected to occur during the third quarter.Corinthian had previously announced the planned divestiture and has accounted for the 12 schools as discontinued operations. Combined, the campuses generated $35 million Canadian in revenue in fiscal 2007.Corinthian shares closed at $17.43 on Thursday.Christie Rizkcr/tk1COPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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