Ataa gets competition authority nod to acquire 52% stake in Al Wasat National Schools, 100% of Arabian Education

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Ataa Educational Co. (Ataa) announced that the General Authority for Competition (GAC) approved the completion of the acquisition of Al Wasat National Schools for Training and Education and Arabian Education and Training Group Co.

Ataa said in a bourse statement that it will complete the procedures required for the full acquisition and expects to finalize Al Wasat National Schools deal in Q4 2021 and Arabian Education deal in Q1 2022.

According to the data compiled by Argaam, the company signed in January 2020 an agreement to acquire a 52% stake in Al Wasat National Schools, through an in-kind share provided by Ataa represented in the transfer of land ownership in favor of Al Wasat National Schools.

Last February, Ataa signed a binding memorandum of understanding (MoU) with Arabian Education to acquire 100% of the company's shares in exchange for cash and shares in Ataa Educational.

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