Al Khaleej Training and Education Company (SASE:4290) signed a non-binding memorandum of understanding to acquire 85% stake in Al-Enjaz National Schools Co. Ltd on June 29, 2021. This memorandum of understanding shall be effective from the date of its signature for period of 90 days. As of September 27, 2021, Al Khaleej Training and Education Company announced the extension of memorandum of understanding for a period of 90 days. Adeem Capital acted as financial advisor to Al Khaleej Training and Education Company and Al-Enjaz National Schools Co. Ltd. Al Khaleej Training and Education Company (SASE:4290) cancelled the acquisition of 85% stake in Al-Enjaz National Schools Co. Ltd on November 22, 2021.