Al-Khaleej Training extends MoU to buy 60% of Al-Raqi Schools

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Al-Khaleej Training and Education Co. extended the memorandum of understanding (MoU) with the shareholders of Al-Raqi National Schools Co. by another 90 days starting today, Dec. 24, according to a bourse statement.

The MoU will be extended with the same terms and provisions, to complete due diligence and obtain required licenses for the new girls complex.

In November, Al-Khaleej Training and Education signed a binding 30-day MoU with Al-Raqi National Schools shareholders’ to acquire 60% of the latter at SAR 12.82 million.