Al-Khaleej Training extends MoU regarding acquisition of 70% of shares of Al-Awael Private Schools Company in Riyadh

The Al-Khaleej Training and Education Company announced on Thursday that it has been agreed with Al-Awael Gulf Holding Company (a Saudi LLC) and Al-Awael Private Schools Company (a Saudi LLC) to extend this memorandum with the same terms and conditions as above for another additional period of (120) days from 01-12-2022 in order to complete the work of due diligence.
This comes reference to the announcement of Al-Khaleej Training and Education Company published on the Tadawul website on 03/08/2022 regarding the signing of a (non-binding) memorandum of understanding with Al-Awael Gulf Holding Company (a Saudi LLC) and Al-Awael Private Schools Company (a Saudi LLC) to potentially acquire (70%) of the ownership shares of Al-Awael Private Schools Company in Riyadh, which is wholly owned by Awael Gulf Holding Company, upon reaching a final agreement between the parties.