Everonn Education rallies on buyout of Bharti Group's training company

The company will acquire all the issued and paid-up share capital of Centum while the Bharti Family Office will receive a combination of cash and equity shares in Everonn

Everonn Education has rallied up to 9% at Rs 184 in opening deals after the company struck a deal to acquire Centum Learning Limited, a privately held company of the Bharti group, in a cash and stock transaction.

“The Chennai-based Everonn will acquire all the issued and paid-up share capital of Centum while the Bharti Family Office will receive a combination of cash and equity shares in Everonn,” the company said in a filing. However, the company has not disclosed the value of the deal.

Centrum Learning is engaged into training programmes and skill development solutions.

A combined 879,569 shares have changed hands on the counter in opening deals on the NSE and BSE.