NCLE to complete Al-Ghad School acquisition after COVID-19 measures end

07/04/2020 Argaam

 

National Company for Learning & Education (NCLE) announced today that the acquisition of Riyadh-based Al-Ghad National Schools for SAR 36.7 million will be completed once the current precautionary measures taken by the Saudi government to combat the COVID-19 outbreak come to an end.

 

The company is currently in the process of fulfilling all conditions stated in the purchase agreement, according to a bourse statement.

 

The firm does not expect any material impact as of now and will announce any further developments related to the transaction in due course.

 

According to data compiled by Argaam, NCLE signed, on Nov. 13, 2019, a purchase agreement to fully acquire Riyadh-based Al-Ghad National Schools, for a value of SAR 36.7 million.

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