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CIBT Education Group Inc Agrees to Buy Linkman International Language Institute in China


Wednesday, 10 Apr 2013 04:15pm EDT 

CIBT Education Group Inc announced that it has signed an agreement to acquire all of the issued and outstanding shares of Linkman International Language Institute (Linkman). The agreement provides for the purchase funds to be paid into a wholly owned subsidiary of CIBT in Beijing so that the purchase funds may be used by Linkman for working capital purposes while allowing CIBT to have full control of the funds. Linkman is a language institution in China specializing in English language training for students in primary and secondary school, and professional English for adults. Linkman will become CIBT`s launching platform for its language subsidiary, KGIC International College. Linkman will change its name to KGIC English Academy, part of KGIC`s branding strategy in China, which will provide KGIC with existing brand, business, infrastructure and local and experienced management to cost-effectively springboard its strategy of adding more English training schools in China. 

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3:46pm EDT