Mubasher TV
Contact Us Advertising   العربية

NCLE concludes Al-Ghad School acquisition

NCLE concludes Al-Ghad School acquisition
The deal is valued at a total of SAR 36.7 million
NCLE
4291
-0.99% 119.80 -1.20

Riyadh – Mubasher: The National Company for Learning and Education (NCLE) has signed a final agreement to fully acquire Al-Ghad National School limited company for SAR 36.7 million.

NCLE will purchase all the shareholders' stakes, as per a statement to the Saudi Stock Exchange (Tadawul) on Wednesday.

The deal includes a number of guarantees from the sellers regarding the company’s commercial activities, schools and staff.

Moreover, the company said that the transaction’s value will be paid in cash through two tranches, the first being when signing the deal at SAR 15 million, with the remaining amount to be paid after the procedures are completed.

The deal’s financial effect will reflect on the company’s financial statements for fiscal year (FY) ending on 31 August 2020.