Alkhaleej Training buys additional 27% stake in Al-Faisaliah Schools for SAR 31 mln

Logo of Alkhaleej Training and Education Co.

Alkhaleej Training and Education Co. acquired an additional 27% stake in Al Faisaliah Private Schools, bringing its total holding to 87%. 

In a statement to Tadawul, the company said it will pay SAR 30.6 million in return for the additional stake in Jeddah-based Al-Faisaliah Private Schools. Alkhaleej Training is in the process of obtaining the required regulatory approvals and completing the relevant paperwork.

Additionally, the company anticipated a good financial impact on its school division given that Al-Faisaliah Private Schools had 3,300 students for the academic year that ended on July 31, 2023. 

The number of students is expected to reach 4,000 next year, particularly when the girls' campus is completed, the statement added.

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