Logo of National Company for Learning and Education (NCLE)
National Company for Learning and Education (NCLE) announced fulfilling all preconditions related to the full acquisition of Al Salam Education and Training Co., according to a filing to Tadawul today, Dec. 1.
The preconditions include obtaining the regulatory approvals and submitting additional representations and other documents by the sellers to NCLE.
Consequently, the ownership of Al-Salam's entire shares was transferred to NCLE.
On July 13, NCLE signed a share purchase agreement (SPA) with shareholders of Al Salam Education to buy their entire shares for SAR 72 million, according to data available with Argaam.
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