Kingdom Investment and Development Co., a subsidiary of Kingdom Holding Co., and Ataa Educational Co. extended the non-binding memorandum of understanding (MoU) for swapping stake in Kingdom Schools by two months as of July 24, 2020, without amending terms and conditions, the companies said in separate bourse filings.
Any updates will be announced in due course, the companies noted.
In December 2019, Kingdom Investment and Development Co. signed a non-binding MoU with Ataa Educational Co. to swap stake in Kingdom Schools.
As per the MoU, Ataa Educational will acquire Kingdom Investment’s 92.1% stake in Kingdom Schools, the owner of Kingdom Educational Schools in Riyadh.
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