Riyadh – Mubasher: Al Khaleej Training and Education Company has signed a non-binding memorandum of understanding (MoU) to acquire 85% equity in Al Enjaz National Schools Company, according to a bourse filing on Tuesday.

The agreement will be effective for 90 days starting 29 June 2021.

Both Al Khaleej Training and Al Enjaz National Schools have appointed Adeem Capital as the financial advisor for the non-binding MoU.

The two parties will later determine the final value of the deal after completing the due diligence process.