Alkhaleej Training extends Adhwaa Al-Hedaya acquisition deal to June-end

Logo of Alkhaleej Training and Education Co.

Alkhaleej Training and Education Co. agreed with the selling shareholder of 80% of Adhwaa Al-Hedaya for Boys and Girls to extend the share purchase agreement’s expiry date from March 31 to June 30, 2025, according to a statement to Tadawul today, March 26.

According to data available with Argaam, Alkhaleej Training entered into a share purchase agreement on March 28, 2024, with Adhwaa Al-Hedaya's shareholders to acquire 1.6 million shares in the latter, representing 80% of its capital, in a share-swap deal.

Under the agreement, Alkhaleej Training will issue 22.65 million new shares at a nominal value of SAR 10 per share.

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In September 2024, the company submitted a request to the Capital Market Authority (CMA) to increase its capital through the issuance of new shares to the shareholders of Adhwaa Al-Hedaya. During the same month, the General Authority for Competition (GAC) approved the planned acquisition.