‎National Gypsum inks MoU for potential acquisition of Adhwaa Al-Hedaya Schools in Riyadh

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Saudi Arabia

‎National Gypsum inks MoU for potential acquisition of Adhwaa Al-Hedaya Schools in Riyadh

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National Gypsum Co. (NGC) signed today, Nov. 29, a memorandum of understanding (MoU) with Adhwaa Al-Hedaya Schools in Riyadh for the potential partial or full acquisition of the latter’s share capital upon reaching a final agreement, according to a statement to Tadawul.

The MoU will be effective for 90 days from the signing date or upon sealing the final agreement whichever comes first, provided that the MoU shall be renewable.

The appointment of a financial advisor for the deal will be announced later.

Managing Director Fahad Al-Thunayan is a related party, the statement said.

Any material developments will be announced in due course.

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