Investment firm buys extra 5% interest in Taaleem Holdings for $14m
Amanat Holdings on Thursday announced that it has increased its stake in Taaleem Holdings, one of the UAE’s largest providers of K-12 primary and secondary education, to 21.7 percent.
The GCC’s largest investment company solely focused on healthcare and education said the deal was worth AED52 million ($14.16 million).
In April 2016, Amanat acquired a 16.34 percent stake in Taaleem Holdings, for AED146 million and the new investment makes Amanat the largest shareholder in Taaleem.
Taaleem Holdings currently operates 10 facilities - seven schools and three nurseries - in the UAE and has a capacity of 11,000 students with current enrolment figures of around 9,000 students.
It offers premium education across multiple curricula, including British, American and International Baccalaureate, as well as a multi-lingual early childhood programme.
Hamad Al Shamsi, chairman of Amanat Holdings, said: “Today, I am delighted that we are further strengthening this partnership through acquiring a bigger stake in Taaleem and I look forward to exploring the next potential growth opportunities together.
"Taaleem Holdings was our first investment in the education sector in the UAE, and we were always keen on increasing our stake in it at the right price as we firmly believed in its model and positioning.”