Logo of Alkhaleej Training and Education Co.
Alkhaleej Training and Education Co. signed today, July 3, a non-binding memorandum of understanding (MoU) with the owners of Al Minhaj Private Schools Co. in Riyadh for the potential acquisition of a 51% stake in the latter, upon reaching a final agreement between the two parties.
The MoU will be effective for 120 days starting from the signing date, and subject to automatic renewal for another period, said the company, adding that there are no related parties.
Alkhaleej Training also indicated that the agreement’s financial impact will be determined after the completion of the final evaluation.
Any material developments in relation to the MoU or the proposed acquisition will be announced in due course, the company added.
Meanwhile, Alkhaleej Training appointed Riyadh-based consulting advisory company Quality & Time (QT) as financial advisor for this transaction.
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