Zee Learn and Tree House share price gained as much as 10 per cent in the morning trade on Friday (Express Photo)
Zee Learn share price gained as much as 9.9 per cent in the morning trade on Friday after the Essel Group’s education arm, informed BSE that its Board has accorded in-principle approval for exploring consolidation options with pre-school chain Tree House Education and Accessories.
At 11.19 am, the share price of Zee Learn was trading 6 per cent up at Rs 45.05. The scrip opened at Rs 42.60 and had touched a high of Rs 46.80, in trade so far. Sensex was down 206 points at 25680.32.
Tree House share price surged 9.98 per cent to Rs 222.60 and hit upper circuit on Friday.
“The Board of Directors of the company has accorded in-principle approval for exploring consolidation options with Tree House Education and Accessories,” Zee Learn said in a BSE filing.
It further said: “The Board has constituted and authorised a committee to finalise the proposed consolidation and take all necessary steps, including appointment of necessary consultants.”
Zee Learn runs a chain of schools under brand names – Mount Litera Zee Schools, Kidzee pre-schools, Mount Litera World Pre-school and Mount Litera International School.
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