Alkhaleej Training terminates MoU to acquire 85% of Al-Enjaz Schools

Logo of Alkhaleej Training and Education Co.

Alkhaleej Training and Education Co. announced terminating the memorandum of understanding (MoU) signed with Al-Enjaz National Schools Co. Ltd. to acquire 85% of the latter, according to a bourse filing.

The two parties did not reach a final agreement due to the lack of compatibility between the parties concerned, the statement noted, adding that there is no obligation on either party.

On June 29, Alkhaleej Training inked a non-binding MoU with Al-Enjaz National Schools to acquire 85% of the latter. The MoU was effective as of the signing date and extendable for 90 days, renewable with the consent of both parties.

The MoU was extended in September for a period of 90 days.

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