Alkhaleej Training extends MoU to acquire 70% of Al Awael Private Schools

Logo of Alkhaleej Training and Education Co. 

Alkhaleej Training and Education Co. agreed with Riyadh-based Al Awael Gulf Holding Co. Ltd and its wholly-owned subsidiary, Al Awael Private Schools Co. Ltd, to extend the non-binding memorandum of understanding (MoU) for the potential acquisition of a 70% stake in Al Awael Private Schools. 

The MoU was extended with the same terms and conditions for another additional period of 120 days from Dec. 1, 2022, to complete the due diligence and other preparatory work, the company said in a statement on Tadawul. 

Any material developments related to the agreement or the proposed acquisition will be announced in due course.  

Alkhaleej Training signed a non-binding MoU in August with Al Awael Gulf Holding Co. Ltd for the probable acquisition of a 70% stake in the latter’s fully-owned subsidiary, Al Awael Private Schools Co. Ltd, upon reaching a final agreement, Argaam reported earlier. 

For More Mergers and Acquisitions