Ataa Educational subsidiary signs agreement to purchase all shares in Al-Alson International and Glory Generation School at SAR 42 mln

Ataa Educational Company announced that a subsidiary of it (The Arab Group for Education and Training Company) has signed an agreement to purchase all the shares of Al-Alson International Company by 100% of the company’s capital for a total value of SAR 38.3 million, after completing the negotiations with the Company’s shareholders.

It is worthy of note that The Arab Group Company for Education and Training owns 62.8% of the ownership of Al-Alson International Company before acquiring all the shares of the company. Provided that the ownership of the Arab Group Company is 100% in Al-Alson International Company after the completion of the acquisition procedures.

Al-Alson International Company owns and operates Al-Alson International Schools Complex in Al Murabba and Al Olay district in Riyadh, and the complex includes all educational stages for boys and girls from kindergarten to secondary stage (KG-G12).

This acquisition falls in line with Ataa expansion strategy in the educational sector with the aim of maximizing the return on equity for the company’s shareholders.

Ataa Educational Company expects that the financial impact of the acquisition will appear starting from the first quarter after obtaining the regulatory approvals and completing the transaction.

On the other hand, Ataa Educational Company also announced that its subsidiary (The Arab Group for Education and Training Company) had signed an agreement to purchase all the shares of Glory Generation International School Company by 100% of the company’s capital for a total value of SAR 3.85 million, after completing the negotiations with the Company’s shareholders.

It is worthy of note that The Arab Group Company for Education and Training owns 45% of the ownership of Glory Generation International School Company before acquiring all the shares of the company. provided that the ownership of the Arab Group Company is 100% in Glory Generation International School Company after the completion of the acquisition procedures.

Glory Generation International School Company owns and operates Glory Generation International Schools Complex in Umm Al-Hamam district in Riyadh, and the complex includes all educational stages for boys and girls from kindergarten to secondary stage (KG-G12).

This acquisition falls in line with Ataa expansion strategy in the educational sector with the aim of maximizing the return on equity for the company’s shareholders.