Kuwait-Mubasher: Eyas for Higher and Technical Education has exited its stake in Advanced Educational in Saudi Arabia for SAR 16.25 million or KWD 1.31 million ($4.31 million).
The company said that its liquidation move will result in about KWD 240,000 loss ($789,400) that will be listed in the financials of the second quarter in FY 2015/2016, according to a bourse statement on Wednesday.
Eyas earlier announced receiving an offer priced at SAR 5 per share for its stake in the Saudi Arabian education investor.
Also today, Educational Holding Group has sold its entire stake in Advanced Educational, a subsidiary in Saudi Arabia, for SAR 129.97 million or KWD 10.48 million ($34.5 million).
