Tarena Signs Equity Transfer Agreement to Dispose of Professional Education Business

Author: Benzinga Newsdesk | December 26, 2023 06:45am

Tarena International, Inc. (NASDAQ:TEDU) ("Tarena" or the "Company"), a leading provider of IT professional education and IT-focused supplementary STEAM education services in China, today announced that it has signed an equity transfer agreement (the "Equity Transfer Agreement") to dispose of all equity interests in the professional education business to a buyer consortium led by Tarena Weishang Technology (Hainan) Co., Ltd (the "Disposal Transaction"). Ms. Lijuan Han, affiliate of the Company's founder and chairman Mr. Shaoyun Han, is a member of the buyer consortium and has an interest in the Disposal Transaction. Kroll, LLC was retained as the independent financial advisor in connection with the Disposal Transaction. The Disposal Transaction is expected to close around the end of March 2024.

Posted In: TEDU