Everonn shares gain on Centum buyout deal

Shares of Everonn Education rose today, after the company entered into a deal to acquire Centum Learning, a Bharti group company, in a cash and stock transaction.

Boosted by the announcement, shares of the company opened on a robust note and further jumped 8.54 per cent to Rs 183.55 on the Bombay Stock Exchange (BSE).

Billionaire Sunil Bharti Mittal-founded Bharti yesterday said it will sell training solution firm Centum Learning to Everonn for an undisclosed sum of cash and a stake in Everonn.

“Everonn will, subject to the receipt of the necessary regulatory approvals, acquire all of the issued and paid-up share capital of Centum. In return, the Bharti Family Office will receive a combination of cash and equity shares in Everonn,” the two firms had said in press statements.

The deal will create an organisation with a robust portfolio spanning education, corporate training and skill development. No financial details about the transaction were provided.

At close today, shares of Everonn Education were up 3.7 per cent at Rs 175.35 on BSE. Intra-day, the scrip rallied 8.54 per cent to Rs 183.55.