AlKhaleej Training extends non-binding MoU to acquire 51% of Al Minhaj Private Schools

Logo of AlKhaleej Training and Education Co.

AlKhaleej Training and Education Co. reached an agreement with the owners of Al Minhaj Private Schools Co. to extend the non-binding memorandum of understanding (MoU) signed to acquire a 51% stake in the latter for six months, starting from Nov. 4, 2022. 

In a statement to Tadawul, the company stated that the MoU will be automatically renewed if the licenses are not issued from the municipality and civil defense and the due diligence procedures are not completed.

The percentage of transaction completion reached 30%, the company said, adding that the deal is expected to be completed on April 3, 2022.

In July, Alkhaleej Training signed a non-binding MoU with the owners of Al Minhaj Private Schools Co. in Riyadh for the potential acquisition of a 51% stake in the latter, upon reaching a final agreement between the two parties.

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