NCLE to acquire Riyadh-based ALGhad Schools

National Company for Learning & Education (NCLE) inked on Monday a non-binding memorandum of understanding (MOU) with Riyadh-based ALGhad National Schools, to acquire 100 percent of its shares, NCLE said in a bourse filing.

The MoU is renewable and will be effective for 30 days as of the signing date October 13, 2019.

Under the MoU, the financial value of the acquisition deal will be determined after finalizing the due diligence process and the relevant financial impact will be defined later.

There are no other parties involved in the deal, the statement added.