Greentown Service Group (HKG:2869) subsidiary Greentown Education completed the disposal of equity interests in Montessori Academy Group, operator of over 55 childcare centers in Australia.

Greentown Education sold its 11.64% interest in Montessori Academy to a trustee of Montessori Academy Trust for AU$16.2 million, according to a Monday bourse filing.

As part of the deal, Greentown Education tendered shares in Montessori Academy equivalent to a 10.78% stake. Montessori Academy bought back the shares for AU$15 million.

As a result, Greentown Education's shareholding in Montessori Academy Group has fallen to 35% from 53.90%.