Al-Khaleej Training extends MoU regarding acquisition of 51% of shares of Al-Minhaj National Schools…. 180 days

The Al-Khaleej Training and Education Company announced on Tuesday that it has been agreed with the owners of Al-Minhaj Private Schools Company Ltd. to extend this memorandum with the same terms and conditions as above for another additional period of (180) days starting from the date of 04/11/2022, subject to automatic renewal if the municipality and civil defence licenses are not issued and to complete Due diligence work.

This comes with reference to the announcement of Al-Khaleej Training and Education Company published on the Tadawul website on 03/07/2022 regarding the signing of a (non-binding) memorandum of understanding with the owners of Al-Minhaj Private Schools Company Limited in Riyadh for the possible acquisition of (51%) of the ownership shares of Al-Minhaj Private Schools Company, This is when a final agreement is reached between the two parties.