Alkhaleej Training terminates MoU to acquire 51% of Al Minhaj Private Schools

Logo of Alkhaleej Training and Education Co.

Alkhaleej Training and Education Co. announced terminating the non-binding memorandum of understanding (MoU) signed with the owners of Al Minhaj Private Schools Co., according to a statement to Tadawul.

This was due to the failure to reach a final agreement but without any obligation on either side.

In July 2022, 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, according to data compiled by Argaam.

The MoU was extended on Oct. 25, 2022 for 180 days.