Raffles LaSalle to acquire Hartford

April 21, 2004

RAFFLES LaSalle Ltd (RLS) has struck a deal to acquire 36 million shares or a 60 per cent stake in fellow education provider Hartford Holdings for $8.64 million. And arising from this acquistion, which works out to 24 cents a share, Raffles will make a mandatory unconditional cash offer for the remaining shares at the same price.

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