Saudi's Al Khaleej Training extends deal with Al Faisaliah for possible acquisition

Reuters Images/Faisal Al Nasser

During the third quarter of 2021, Al Khaleej Training logged net profits after Zakat and tax worth $2.11mln, up 21.47% from $1.74mln in Q3-20

Staff Writer, Mubasher

April 8, 2022

PHOTO

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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