Ataa Educational Company announced the signing of an agreement to purchase the full shares of Al-Falah National Company (a limited liability company), in return for a total value of 50 million riyals, by financing My bank.

According to the company’s statement to the Saudi market (Tadawul), Al Falah owns the Al Falah Educational Schools Complex in Riyadh, and the complex includes all educational stages for boys and girls from kindergarten through to the stage Secondary (KG-G12).

Al-Falah's revenues for the years 2017, 2018 and 2019, based on the company's audited financial statements, amounted to 19.673 million, 17.065 million, and 16.608 million riyals, respectively. p>

This deal is in line with Ataa’s strategy to expand the services of the educational sector by merging and acquisition in order to maximize the return on equity for the company's shareholders.

The value of the acquisition was also evaluated after financial, legal and administrative examination work that neglected foolishness.