Curro’s private university business, Stadio Holdings, has acquired leading fashion design school and retail education institution, Lisof, for an undisclosed fee.
Stadio, which listed on the Johannesburg Stock Exchange (JSE) as a separate entity earlier this month, said that the purchase includes a number of immovable properties which are predominantly utilised by Lisof for the purpose of carrying out its business operations.
The acquisition is subject to the fulfilment of certain conditions, none of which are material.
“The acquisition is aligned with Stadio’s intention to acquire additional higher education institutions with the purpose of expanding both the geographical footprint of its investments and the higher qualifications which they offer,” the company said in a statement on Thursday.
“The acquisition of Lisof complements Stadio’s acquisition of the South African School of Motion Picture Medium and Live Performance Proprietary in expanding its product offering in the creative economy,” it said.
Lisof is a registered higher education institution with 5 accredited programmes primarily focused on the fashion industry with a current presence in Johannesburg and Pretoria.
The school has in excess of 700 students and qualifications offered including a Bachelor of Commerce (Fashion), Bachelor of Arts (Fashion), BA Honours in Fashion, Diploma in Fashion, Higher Certificates and a range of short courses.