Mubasher: GFH Financial Group has signed a non-binding memorandum of understanding (MoU) with AlKhaleej Training and Education Company to explore potential collaboration on the merger of their educational assets and companies.
The deal includes merging 23 schools and a university through a 100% exchange of in-kind shares, according to a bourse statement.
The merger aims to establish a Saudi joint-stock company or an educational fund to be listed on the Saudi Exchange (Tadawul) within 24 to 36 months of the transaction's completion.
Meanwhile, the new joint venture (JV) is subject to obtaining the necessary regulatory approvals.
GFH expected that the transaction would have a positive impact on the value of the merged assets to be listed and the associated value of the group’s investments.
At the end of September 2025, the net profit attributable to shareholders of GFH increased by 15.10% year-on-year (YoY) to $101.27 from $87.95 million.
