March 6, 2017 / 4:56 AM / 5 months ago

BRIEF-MT Educare enters agreement with Nspira for strategic collaboration

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March 6 (Reuters) - MT Educare Ltd:

* Says entered agreement with Nspira Management Services Pvt Ltd for strategic collaboration

* Says talks at preliminary stage Source text:

MT Educare Limited has informed the Exchange that the Board of Directors of the Company, at its meeting held on March 6, 2017, have approved entering into a confidentiality, exclusivity and standstill agreement to evaluate a potential strategic collaboration by way of a scheme of arrangement or any other suitable structure between MT Educare Limited and Nspira Management Services Private Limited. The agreement provides for a mutually agreed exclusivity period for due diligence and discussions between MT Educare Limited and Nspira Management Services Private Limited in relation to the proposed transaction. Current discussions are at preliminary stage. The proposed arrangement or structure shall be subject to due diligence, agreement on appropriate transaction structure, board, shareholder, regulatory, NCLT and any other third party approvals, as may be applicable. Further company coverage:

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