National Gypsum cancels MoU for potential acquisition of Adhwaa Al-Hedaya Schools

Logo of National Gypsum Co. (NGC)

National Gypsum Co. (NGC) announced the cancellation of the memorandum of understanding (MoU) signed with the Adhwaa Al-Hedaya Schools Co. for Boys and Girls, due to the latter’s lack of desire to proceed with the implementation of the MoU. 

 This cancellation has no financial impact, the firm said in a statement to Tadawul. 

In November 2022, National Gypsum Co. signed a non-binding MoU with Adhwaa Al-Hedaya Schools in Riyadh for the potential partial or full acquisition of the latter’s share capital upon reaching a final agreement, according to data compiled by Argaam.