By: Amr Adel
Dubai – Mubasher: GFH Financial Group is working on completing two exit transactions during the second half of 2017, CEO Hisham Al Rayes said on Wednesday.
The group seeks to exit a majority stake in an education portfolio, which has a market value of $300 million, he said in a phone interview with Mubasher, adding that the transaction will generate high profits once it is finalised.
The group will also exit a real estate portfolio in the US, Al Rayes added.
GFH has signed an agreement with Promseven Holdings in Bahrain to exit part of its real estate portfolio with an approximate value of $55 million, according to a bourse statement.
The deal came as a part of GFH’s strategy that aims to exit some non-core assets.
Translaetd by: Julian Nabil
