CIBT Continues Expansion by Acquiring Majority Interest of another Business School in China
Capital Alliance Group Inc. (TSX.V: CPT) reports that its subsidiary, CIBT School of Business and Technology Corp has entered into a formal agreement to acquire 55% control of Zhengzhou International Business School (“ZIBS”) with an option to purchase an additional 10% within three years from the closing date. ZIBS is jointly owned by Henan Province Weixin Management Consulting Corporation and Zhengzhou Dayu Real Estate Corporation. The closing date of this transaction is subject to receiving Henan provincial government approval.
” Zhengzhou International Business School has been an alliance partner of CIBT Beijing for many years and has done an excellent job in delivering quality education to the people of Henan province” stated Toby Chu, President and CEO of CIBT. “This acquisition will expand CIBT’s strategic presence to another highly populated province of Henan which consists of over 93 million people.”
About Zhengzhou City
Zhengzhou city is located south-west of Beijing and is the capital city of Henan province, one of the most populated provinces in China with 93 million people. Henan province is in an ideal geographical location for expansion as it is surrounded by six other densely populated provinces.
About Zhengzhou International Business School
Zhengzhou International Business School has been an alliance school of CIBT since 1997. ZIBS offers international business management and technology programs as well as Bachelor degree curricula from foreign partner universities. ZIBS has campus facilities of approximately 140,000 square feet including classrooms, lecture halls, cafeteria, dormitories, library, computer labs and a gymnasium.
About CIBT
Founded in 1994, CIBT School of Business is a leading business school in Beijing , China . CIBT operates two campuses in Beijing , a campus in Weifang, and three learning centers in other cities in China . CIBT has academic partnerships with Beijing University of Technology and Weifang University , and delivers postsecondary business and technology education to students and corporations in China . By cooperating with leading education providers in North America, Europe and Asia, CIBT continually develops advanced curricula to meet the needs of China ‘s growing economy.
On Behalf of the Board of Directors of CIBT.
Toby Chu
President and C.E.O
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