Al Khaleej Training and Education Company entered into a non-binding memorandum of understanding to acquire 80% stake in Adwaa Al-Hidaya School and Regat Jarmar International Schools for Multinational Education from Adwaa Al-Hidaya Schools Company for SAR 480 million.

Al Khaleej Training and Education Company entered into a non-binding memorandum of understanding to acquire 80% stake in Adwaa Al-Hidaya School and Regat Jarmar International Schools for Multinational Education from Adwaa Al-Hidaya Schools Company on September 7, 2023. Al Khaleej Training and Education Company entered into agreement to acquire 80% stake in Adwaa Al-Hidaya School and Regat Jarmar International Schools for Multinational Education from Adwaa Al-Hidaya Schools Company for SAR 480 million on March 31, 2024. This deal is subject to the approvals of the relevant regulatory authorities.

In a related transaction, Al-Khaleej Training and Education Company announces the signing of a (non-binding) memorandum of understanding with the Al-Awael Gulf Holding Company in Riyadh to potentially acquire (70%) of the ownership shares of Al-Awael Private Schools Company in Riyadh. Al Khaleej Training and Education Company appointed Adeem Financial Company as a financial advisor for this deal.