Key Highlights
- Crizac Ltd, a wholly owned subsidiary of Crizac Limited, acquired a 51% equity stake in Studies Planet.Com Limited.
- Studies Planet.Com Limited is a London-based education company specializing in international student recruitment.
- The acquisition strengthens Crizac’s presence and market expansion in South America.
- The transaction will be completed by March 31, 2026, through a cash consideration.
Crizac Limited announced that its wholly owned subsidiary, Crizac Ltd, has acquired a 51% equity stake in Studies Planet.Com Limited, a private company incorporated under the UK Companies Act 1985. The acquisition aligns with the company’s expansion strategy to strengthen its global footprint, particularly in the South American education market.
According to the company’s disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the acquisition is a strategic move aimed at enhancing Crizac’s international operations and capitalizing on growth opportunities in new regions.
Studies Planet.Com Limited, headquartered in London, England, is engaged in international student recruitment. As of September 30, 2024, the company reported a turnover of £138,613 and a net loss of £26,337.
The acquisition will be completed by March 31, 2026, and the consideration will be paid in cash, either in one or multiple tranches. The company stated that the price per share remains undisclosed due to confidentiality reasons.
Crizac clarified that the transaction does not qualify as a related party transaction, and the promoters or promoter group have no interest in the target entity.
Established on September 4, 2007, Studies Planet.Com Limited has shown turnover figures of £242,758 in FY2021-22, £114,338 in FY2022-23, and £138,613 in FY2023-24.
The acquisition is expected to bolster Crizac’s market access and operational capabilities, aligning with its long-term international growth objectives.