Alkhaleej Training says no agreement reached to buy 70% of Al Awael Private Schools

Logo of Alkhaleej Training and Education Co.

Alkhaleej Training and Education Co. ended the non-binding memorandum of understanding (MoU) signed earlier with Al Awael Gulf Holding Co. Ltd to acquire 70% of Al Awael Private Schools Co. Ltd, as no final agreement was reached.

In a statement to Tadawul, Alkhaleej said the parties failed to reach an agreement, noting that there is no obligation for both parties.

In August 2022, the company signed a non-binding MoU with Riyadh-based Al Awael Gulf Holding or the potential acquisition of a 70% stake in the latter’s fully-owned subsidiary, Al Awael Private Schools Co. The MoU was extended on Dec. 1, 2022 for 120 days., Argaam earlier reported.

For More Mergers and Acquisitions