AlKhaleej Training sells stake in Spectrum Wellness, VOG Salons

10:11 AM (Mecca time) Argaam
Logo ofAlKhaleej Training and Education Co.

Logo of AlKhaleej Training and Education Co.

AlKhaleej Training and Education Co. sold its entire stake in Spectrum Wellness and VOG Beauty Salons for Women, along with their branches, to related parties for SAR 7.2 million, according to a statement to Tadawul.

 

The buyers are Abdulaziz Al-Rashed, Ramadi Company Ltd. (represented by Nayef Al-Rajhi), and Alwaleed Aldereyaan, the statement added.

 

For More Mergers and Acquisitions

 

The transaction is subject to the normal terms of sales contracts in accordance with the laws and regulations in force across the Kingdom without any conditions or preferential benefits.

 

The proceeds from the transaction will be used for general corporate purposes, and it will have no positive or negative impact, as the sale was made at book value, the company explained.

 

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