Logo of Ataa Educational Co.
Ataa Educational Co. announced today, June 3, 2021, the extension of the duration of the binding memorandum of understanding (MoU) signed with Arabian Education and Training Group Co., to acquire 100% of the company's shares in exchange for cash and shares in Ataa Educational, for additional 90 working days.
The 90-days period will start from the expiry date of the previous MoU, at the same terms and conditions, the company said in a bourse filing.
Ataa Educational said that 50% of the work on the deal has been completed, expecting the deal to be finalized during the extension period.
Currently, there is no change in the costs associated with the deal, the company said, adding additional developments will be disclosed in due course.
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