Al-Salam transfers ownership to National Education for agreed purchase price of SR72 mln

National Company for Learning and Education (NCLE) announced on Thursday the fulfilment of all conditions precedent stated in the agreement including obtaining the necessary regulatory approvals and the seller’s submission of additional representations and other documents to the NCLE.
Consequently, the ownership of the entire shares of Al-Salam was transferred to NCLE.
National Company for Learning & Education announced the signing of a share purchase agreement with the shareholders of Al-Salam Education and Training Company (limited liability Company) to purchase their entire shares in the company with an amount of SR 72 million.
The deal has been closed and Memorandum of Association for Al-Salam Education and Training Company was amended accordingly.
This comes subsequent to the announcement published by National Company for Learning & Education “NCLE” on Tadawul’s website on 13 / 07 / 2022 concerning signing an agreement to purchase the entire owner’ shares of Al-Salam Education and Training Company- limited liability company “Al-Salam”, which represent (100%) of Al-Salam’s share capital at the agreed purchase price of SR72 million.