Hope Education Group to acquire a 95% stake in Hebi Automotive Engineering Professional College for $23m.

Hope Education Group, an investment holding company, agreed to acquire a 95% stake in Hebi Automotive Engineering Professional College, the only automobile engineering general college in the province of Henan, for $23m. The acquisition of Hebi will be a good integration of the resources of the Group’s automotive colleges. It will also strengthen Hebi's ability to run a school and enroll students, so as to cultivate outstanding graduates and better serve the society.