Ataa subsidiary signs a contract to buy Al-Yasmine Company ‎shares at SR18.3 mln

Ataa Educational Company announced that a subsidiary of it, “The Arab Group Company for Education and Training,” signed an agreement to purchase all the shares of the International Jasmine Company by 100% of the capital, after negotiating with the owners of the shares in the company, at a value of 18.3 million.

It should be noted that the Arab Group Company for Education and Training owns 49% of the ownership of the Al-Jasmine Company before acquiring all the shares of the company, provided that the ownership of the Arab Group Company is 100% of the Al-Jasmine Company after the completion of the acquisition procedures.

It is worth noting that Al-Yasmine International Company owns and operates the Al-Yasmine Schools complex in Al-Malaz district in Riyadh, and the educational complex includes all educational stages for boys and girls from kindergarten to secondary school (KG-G12), and this acquisition deal comes in line with the strategy Ataa Company to expand the services of the educational sector with the aim of maximizing the return on equity for the company’s shareholders.

This acquisition deal comes in line with the company’s strategy to expand in the educational sector services with the aim of maximizing the return on equity for the company’s shareholders.

“Ataa Education” expects that the financial impact of the acquisition will appear, starting from the first quarter, after obtaining the regulatory approvals and completing the deal.

The agreement is also subject to the approvals of the General Authority for Competition and other regulatory authorities with jurisdiction to complete it. “Ataa Educational” will announce the latest essential developments to complete the transaction procedures in a timely manner.