By Gavin Gibbon
Sale confirmed in posting to Dubai Financial Market, subject to regulatory approvals
Amanat Holdings PJSC has agreed to sell Middlesex University Dubai to Study World Education Holding Group.
According to a listing posted to Dubai Financial Market, Amanat has confirmed that a sale and purchase agreement has been signed with Dubai-based Study World.
It said: “The transaction is subject to the satisfactory completion of customary conditions, including regulatory approvals and estimation of final consideration.”
No financial details of the transaction were revealed in the market update.
Dubai-based Amanat, an investor in education and healthcare, acquired the campus in 2018 for about $100 million from the liquidators of private equity firm Abraaj Group. Amanat also owns stakes in Abu Dhabi University Holding Co. and Taaleem Holdings.
Study World Education, founded by Indian businesswoman Vidhya Vinod, operates schools in Dubai, India, Sri Lanka and Malta, according to its website.
The Dubai Middlesex campus opened in January 2005 and has more than 3,500 students from over 100 nations. It offers undergraduate and postgraduate programs in a wide range of subjects.