Al Rayan Holding Company announced in a press release this morning that it has successfully completed the acquisition of the Kuwait International English School (KIES), after acquiring the New Pakistani International School (NPIS), and has completed all legalities pertaining to this acquisition.
In addition, GEMS Education has already commenced its management of the two schools and has initiated their work related to the development of the systems, policies and procedures in an attempt to improve the quality of education in these schools.
It is worth mentioning that Al Rayan has partnered with GEMS Education, which is a Dubai-based company and one of the leading providers of management services for various schools in the Middle East, North Africa and South Asia, to run all the schools that are and will be acquired by Al Rayan.
GEMS manages a growing network of over 65 international schools and provides high quality education to students as well as total solutions in education management to ensure optimum efficiency and performance.
According to the Company's Chairman Mr. Nasser Al-Khaled, "as a part of its medium term strategy, Al Rayan currently aims at acquiring 8-10 portfolio schools and is presently evaluating a number of schools with various curriculums." He has also added that "Al Rayan adopts a 'buy and build' approach - targeting underperforming yet promising schools and applying a restructuring program." Further he added, "through its aforementioned acquisitions and restructuring efforts, we will ensure that Al Rayan provides the general public with the finest quality of primary and secondary education while maximizing value to the Company's shareholders."
© Press Release 2007
