Navitas in Canberra uni deal
UPDATE 2.20pm: Navitas has struck a deal to buy a 51 per cent stake in the University of Canberra College (UCC) for $4.9 million.
The college, from which Navitas already operates its pathway program, will operate as a joint venture between the company and the University of Canberra.
Navitas said it would fund the acquisition through its existing funding facilities and will equity account its share of the earnings of UCC in its group financial statements.
“This collaboration will enhance UCC’s capacity to recruit more students from a wider range of countries around the world and to deliver both existing and new programs,” Navitas said in a statement.
Navitas chief executive Rod Jones said the University of Canberra and Navitas both had a strong proven commitment to student experience and academic quality which would form the base of the new partnership.
Shares in Navitas were up one cent to $4.85 at the close.
