{"id":84928,"date":"2024-04-01T00:00:00","date_gmt":"2024-04-01T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/04\/01\/al-khaleej-training-and-education-gets-controlling-stake-in-adwaa-al-hidaya-schools\/"},"modified":"2024-04-01T00:00:00","modified_gmt":"2024-04-01T00:00:00","slug":"al-khaleej-training-and-education-gets-controlling-stake-in-adwaa-al-hidaya-schools","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/04\/01\/al-khaleej-training-and-education-gets-controlling-stake-in-adwaa-al-hidaya-schools\/","title":{"rendered":"Al Khaleej Training and Education gets controlling stake in Adwaa Al Hidaya Schools"},"content":{"rendered":"

AlKhaleej Training and Education<\/strong> is getting a controlling stake in Adwaa Al <\/strong>Hidaya S<\/strong>chools: <\/strong>Al Khaleej Training and Education<\/a> entered a share purchase agreement to acquire 1.6 mn shares \u2014 good for a 80% stake \u2014 of Adwaa Al Hidaya Private Schools for Boys and Girls<\/a> through a share swap, it said in a disclosure to Tadawul<\/a> yesterday. The transaction, valued at SAR 480 mn, is still subject to regulatory approvals.<\/p>\n

Ironing out the details: <\/strong>The transaction sees Al Khaleej acquiring a controlling stake in the schools in exchange for the issuance of new shares in the company to the selling shareholders. This will bring Al Khaleej\u2019s capital to SAR 880 mn through the issuance of 22.9 mn ordinary shares. The ownership of AlKhaleej\u2019s current shareholders is set to decrease from a full 100% ownership to 74% upon the completion of the transaction.<\/p>\n

Either party could still walk away from the transaction within nine months<\/strong> or as agreed if conditions aren\u2019t met, according to the disclosure. The acquisition is subject to approvals from AlKhaleej's shareholders, General Competition Authority (GAC), Capital Market Authority (CMA) and Tadawul.<\/p>\n

About the parties<\/strong>: Founded in 1993, Al Khaleej Training and Education provides a diverse range of educational and training solutions to clients. It also operates international schools and kindergartens across the Kingdom. Adwaa Al Hidaya Schools for Boys and Girls were established in 2005 with two educational institutions under its ownership \u2014 Adwaa Al Hidaya in and the Regit Grammar School Riyadh (RSGR) in Riyadh. Both schools have a total of 5.1k students.<\/p>\n","protected":false},"excerpt":{"rendered":"

The transaction is valued at SAR 480 mn<\/p>\n","protected":false},"author":1,"featured_media":84929,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2575],"tags":[1701,1700,2497,10,14],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-84928","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-adwaa-al-hidaya-private-schools","tag-al-khaleej-training-and-education","tag-education","tag-enterpriseam-ksa","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"0af6038c-16f6-4a88-9463-38c21061897f","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/2192.jpg","photo_position":"above","homepage_title":"Al Khaleej grabs 80% of Adwaa Al Hidaya Schools","full_issue_title":"Al Khaleej Training and Education grabs 80% of Adwaa Al Hidaya Private Schools","related_issue":[84916],"teaser":"The transaction is valued at SAR 480 mn","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.41a1091b-3a0e-4bde-bbf9-26e1a4782327.mp3"},"yoast_head":"\nAl Khaleej Training and Education gets controlling stake in Adwaa Al Hidaya Schools - 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