Navitas confirms US partnership talks

Education provider Navitas has confirmed it is in advanced negotiations with US-based and other global learning institutions, saying it would reveal details of a partnership as early as this week.

Navitas said it was responding to widespread media speculation that the negotiations were a done deal.

“The speculation may have stemmed from comments made at its FY14 full-year results briefing and further notes that it announced to ASX that a webcast of that briefing was available from its website,” Navitas said in a statement.

The company said negotiations were ongoing with potential partner universities, including some in the US.

“At this stage, those negotiations are ongoing and incomplete,” Navitas said.

“In line with continuous disclosure obligations, Navitas will update the market on discussions when negotiations are concluded and a legally binding agreement is executed.” 

Navitas recorded a 31 per cent fall in full-year profit yesterday after write-downs to its university division overshadowed stronger revenues. 

The company’s share price fell sharply in July after Macquarie University announced it would end a partnership with the company from 2016.