Saudi’s Al Khaleej Training extends deal with Al Faisaliah for possible acquisition
- Date: 08-Apr-2022
- Source: Zawya
- Sector:Economy
- Country:Saudi Arabia
Saudi’s Al Khaleej Training extends deal with Al Faisaliah for possible acquisition
Riyadh – Al Khaleej Training and Education Company has renewed its non-binding memorandum of understanding (MoU) with Al Faisaliah National Schools Company to acquire a 60% stake in the latter.
The two parties extended the contract, which was signed last October, for 90 days starting from 14 April until 10 July this year, according to a recent bourse disclosure.
During the third quarter (Q3) of 2021, Al Khaleej Training logged net profits after Zakat and tax worth SAR 7.93 million, up 21.47% from SAR 6.53 million in Q3-20.
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