Logo of Alkhaleej Training and Education Co.
The General Authority for Competition (GAC) approved Alkhaleej Training and Education Co.'s acquisition of an 80% stake in Adhwaa Al-Hedaya Private Schools.
Last March, Alkhaleej Training sealed a sale and purchase agreement (SPA) with Adhwaa Al-Hedaya's shareholders to acquire 1.6 million shares (80% of capital) in the latter by issuing new shares to Adhwaa Al-Hedaya's shareholders, Argaam’s data indicated.
For more news and details on M&As
Alkhaleej Training will issue 22.65 million new ordinary shares to Ethraa Holding, at a nominal value of SAR 10 each. These shares will be in exchange for the 1.6 million shares acquired in Adhwaa Al-Hedaya.
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