Competition Authority Approves Economic Concentration Between Al Khaleej Training and Adwaa Al-Hedaya Schools

Al Khaleej Training and Education Company announced on Thursday that the General Authority for Competition has issued a decision approving the economic concentration process related to the acquisition of Adwaa Al-Hedaya Private Schools for Boys and Girls (a Saudi closed joint-stock company).

This follows Al Khaleej Training and Education Company’s previous announcement on August 29, 2024, regarding its conclusion of an amended sale and purchase agreement dated August 28, 2024. The agreement involves the acquisition of 1.6 million ordinary shares in Adwaa Al-Hedaya Private Schools, representing 80% of the company’s shares. In return, new shares will be issued in Al Khaleej Training to Ithraa Holding Company, the selling shareholder in Adwaa Al-Hedaya.