ANC Education Holdings, part of the troubled Ceylinco Group, has bought Wycherley International School from its shareholders, an informed source said.
He said ANC (an acronym for American National College) entered into this transaction about three months ago, after the Golden Key (another Ceylinco firm) debacle.
"The education cluster of Ceylinco has money and they had paid about Rs. 200 million for Wycherley," the source, who is close to ANC said.
He said now ANC has 100% ownership of the school and they had not obtained loans for this transaction.
"They bought it through a payment plan from the three shareholders and they are to complete payments in about six months," he added. |
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