Ataa’s subsidiary gets GAC nod to acquire GGIS

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Ataa Educational Co. received the go-ahead of the General Authority for Competition (GAC), on Oct. 1, to proceed with the full acquisition of Glory Generation International School (GGIS) through its subsidiary, Arabian Education and Training Group (AETG).

 

The financial impact of the deal is expected to be reflected on Ataa’s financial results for the fiscal year ended July 31, 2023.

 

Ataa’s subsidiary will acquire GGIS for SAR 3.85 million, Argaam earlier reported.

 

AETG will raise its ownership in GGIS to 100% from the current 45%.

 

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