Competition approves acquisition of Glory Generation schools by subsidiary of Ataa Educational

Ataa Educational Co. announced on Tuesday the issuance of the General Authority for Competition’s decision on 01/10/2023 not to object to the completion of the purchase transaction so that the ownership of the Arab Group for Education and Training Holding Company becomes 100% for Glory Generation International School Company at a value of 3.850.000 million.

The Company said today on Tadawul that the financial impact of the deal will be visible on the financial results of the fiscal year ending on 31-07-2023.

This comes further to the announcement of Ataa Educational Company (the “Company”) on 23/07/2023 that its subsidiary (Arab Group for Education and Training Holding Company) signed an agreement to purchase all shares in Glory Generation International School Company.