‎Alkhaleej Training buys additional 27% stake in Al Faisaliah Schools for SAR 31 mln

‎Alkhaleej Training buys additional 27% stake in Al Faisaliah Schools for SAR 31 mln

Alkhaleej Training and Education Co. acquired an additional 27% stake in Al Faisaliah Private Schools, bringing up its total holding to 87%.

In a statement to Tadawul, the company said it will pay SAR 30.6 million in return for the additional stake in Jeddah-based Al Faisaliah Private Schools. Alkhaleej Training is in process of obtaining the required regulatory approvals and completing the relevant paperwork.

Further, a positive financial impact was expected by the company on its schools segment, as the student count at Al Faisaliah Private Schools reached 3,300 for the academic year ended July 31, 2023. The number of students is expected to reach 4,000 next year, particularly when the girls campus is completed, the statement added.

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