Canada-based Loyalist Group has announced that it is continuing with the restructuring of the company after having secured CAN$2.8m in funding. Meanwhile, teachers at Loyalist-owned school PGIC in Vancouver have ended their strike.
Teachers from the Vancouver campus of ESL school, PGIC, have been on strike since last Wednesday over failed wage negotiations with owner, Loyalist Group.
Loyalist Group, the owner and operator of a number of private ESL schools across Canada, has seen a huge drop in stock prices this month after reporting a loss of CAN$19.5m, and replacing four senior staff members.
Canada-based education provider Loyalist Group has made its second Korean agency acquisition, buying the four Korea-based offices operated by Kim Okran International Studies Centre Inc., for CAN$4.65m. The deal follows Loyalist's acquisition of Uhak.com, South Korea's largest student recruitment agency, in November last year.
In more exciting acquisitional activity in the education agency space, Canada's Loyalist Group has reported it is set to acquire Uhak.com (Uhak), South Korea’s largest education agency, for CAN$8.1m, of which $5.3m will be paid in cash. Loyalist's CEO said the deal meant "a new dimension to Loyalist's vertical integration strategy".
