SINGAPORE (Apr 29): Raffles Education Corp is selling its entire 51% stake in China-based university operator Langfang Development Zone Oriental University City Sino-Singapore Education Investment Co for 420 million yuan ($84.6 million).

The sale will be made through Raffles Education's subsidiary Langfang Tonghui Education Consultancy Co and the buyer is China individual Liu Yanwen.

Prior to the signing of the sale & purchase agreement, Langfang Tonghui Education Consultancy Co holds a 100% stake in Langfang Development Zone Oriental University City Sino-Singapore Education Investment through Liu.

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