Acquisition of Engage Independent School in Madrid
Internationella Engelska Skolan i Sverige Holdings II AB (”Internationella Engelska Skolan” or ”IES”) has as of 7 June 2019 through its wholly-owned Spanish subsidiary International Education Partnership S.L (”IEP”) acquired 100% of the shares in Engage Independent School, a fee-paying private school in Majadahonda (Madrid), Spain. The enterprise value for the operations amounts to approximately MEUR 2.4. The acquisition is financed through an equity contribution from IES of MEUR 2.4. The building is not part of the acquisition and will be rented. EBITDA for the school in the financial