Saudi Al-Khaleej Training acquires 60% of Al-Faisaliah schools for $16m

RIYADH: Saudi Al-Khaleej Training and Education Co. has acquired a 60 percent stake in Al-Faisaliah National Schools Co.

The acquisition deal is worth SR60 million ($16 million) and is subject to obtaining the necessary regulatory approvals, according to a bourse filing.

Listed on Saudi Arabia’s main stock index TASI, Al-Khaleej Training narrowed its net losses by 33 percent to SR5.09 million during the first quarter of 2022, down from SR7.6 million in the same period a year ago.