Renaissance sounds death knell ahead of meeting to sell Yoobee

Tue, 14 Jan 2014

By Paul McBeth Jan. 14 (BusinessDesk) - Renaissance Corp ultimately plans to wind itself up once it sells its Yoobee School of Design and deals with its ailing retail business, returning capital to shareholders. The shares jumped 28 percent to 15.4 cents. The company will ask shareholders at a special meeting on Jan. 29 in Auckland to approve the sale of Yoobee to Academic Colleges Group for a net $13.3 million, with a potential earn-out of up to $1 million based on 2014 earnings. Independent adviser KordaMentha considered the deal fair to...

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