GECC Divests Sprott Shaw College to Focus on Student Housing

An update from Global Education Communities ( (TSE:GEC) ) is now available.

Global Education Communities Corp. (GECC) has announced the sale of its Sprott Shaw College subsidiary to a European-based education provider for approximately $35 million in cash. This strategic divestiture allows GECC to focus on its core business of student housing, particularly its GEC® student housing portfolio, positioning itself as the largest off-campus student housing provider in British Columbia. The transaction is expected to unlock significant value for shareholders and resolve market confusion between its education and real estate divisions. GECC plans to leverage its substantial cash position to explore new opportunities and streamline its operations towards becoming a pure-play student housing leader.

More about Global Education Communities

Since 1994, Global Education Communities Corp. (GECC) has been a prominent player in the Canadian education and student housing sector, catering to both domestic and international markets. The company offers a wide range of services, including business and language colleges, student-centric rental apartments, recruitment services for educational opportunities, and a network of campuses and offices across 40 locations. GECC serves over 12,500 students annually through its subsidiaries, which include Sprott Shaw College, Sprott Shaw Language College, Vancouver International College, and CIBT School of Business & Technology. Additionally, GECC addresses student housing needs through its subsidiary, Global Education City Holdings Inc., with a portfolio exceeding $1.3 billion.

YTD Price Performance: 77.78%

Average Trading Volume: 38,947

Technical Sentiment Signal: Hold

Current Market Cap: C$21.58M

Learn more about GEC stock on TipRanks’ Stock Analysis page.