Alkhaleej Training extends MoU with Al-Raqi National by 90 days

Alkhaleej Training and Education Co. extended the non-binding memorandum of understanding (MoU) with Al-Raqi National Schools Co. Ltd to acquire a 60% stake in Al-Raqi Private Schools Company Limited in Riyadh by additional 90 days, starting Oct. 2, to complete the due diligence.

The extension will not have any financial impact, the company said in a bourse statement, adding any material development will be announced in due course.

In July, the company inked a 90-day non-binding MoU with Al-Raqi National Schools Co. for acquiring Al-Raqi Private Schools.