Ataa Educational completes purchase of entire stake of Al-Elm International Schools

Ataa Educational Co.

Ataa Educational Co. announced today, June 20, the completion of all the procedures required to purchase and transfer the entire stake of Al-Elm International Schools Co. from the selling partners, according to a bourse filing.

The financial impact of the deal will appear on Q4 2021 financials, ending July 31, 2021. In April 2021, Ataa received clearance from the General Authority for Competition (GAC) to purchase Al-Elm International Schools Co.

In December 2020, the firm signed an agreement to fully acquire Al-Elm International Schools Co. for SAR 40 million.

Al-Elm International Schools LLC, a limited liability company, owns and operates Al-Elm International Schools in Riyadh. In addition, it operates and develops pre-primary, primary, preparatory and secondary curricula for boys and girls.

Al-Elm International Schools reported revenue and profit of SAR 22.5 million and SAR 3.7 million, respectively, in 2019.

In 2018, the company’s revenue stood at SAR 16.6 million but reported a net loss of SAR 1.3 million. In 2017, revenue and loss reached SAR 24 million and SAR 1.9 million, respectively.

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