Dubai– Mubasher: Investors in GEMS Education are considering a sale of a 25% stake in the UAE-based international education operator, sources with knowledge of the matter said on Tuesday.
This came after plans to take GEMS Education public were suspended, sources told Bloomberg News.
Meanwhile, sovereign-backed private equity firm Fajr Capital, Bahrain’s sovereign wealth fund Mumtalakat Holding Co and the Varkey Group are also weighing up selling some or their entire stake in the education provider in a deal that could be valued at $4 billion, they added.
The list of the investors also includes Blackstone Group LP, which is an American multinational private equity, alternative asset management, and financial services firm based in New York City.
The owners seeking to sell their stakes are close to appoint Credit Suisse Group AG and Morgan Stanley to advise on the sale.
GEMS owns and manages around 250 schools and nurseries in 14 countries, including Qatar, the UAE and Saudi Arabia.
