Tree House signs Rs 52.50 crore MOU for sale of land, building at Vadodara

Tree House Education & Accessories Ltd (Tree House), a leading educational service provider operating the largest number of branded self-operated pre-schools in India, has signed a Memorandum of Understanding (MOU) for sale of its land and building located at Vadodara in state of Gujarat for Rs 52.50 crore.

The particular property being considered for sale under this MOU is located at Revenue Survey 49 CTS No 792Atladara, Vadodara, Gujarat and represents the second K-12 school land and building premises fully owned by the company plans to monetize its physical assets while continuing to provide educational services to these institutions.

The company will use the proceeds to move towards a debt free status and deliver strong returns to all our shareholders from the strong cash flows generated by the business. Tree House commenced the business of providing educational services to K-12 schools in 2008 and currently has a portfolio of 24 large format K-12 schools apart from over 500 pre-schools across the country.

Mr Rajesh Bhatia, Managing Director, Tree House said “ This is the second step towards monetizing our investments in physical assets of K-12 schools and moving towards as asset –light operating structure. We will use the proceeds to move towards a debt free status and deliver strong returns to all our shareholders from the strong cash flows generated by the business”

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