GEMS Education will reconsider the sale of the business after possible $6bn sale talks stalled, according to Bloomberg.
Citing people familiar with the matter, Bloomberg said potential suitors for the education powerhouse have so-far been unable to reach a valuation.
GEMS values the business at $6bn.
GEMS Education sale
As previously reported on Arabian Business, sovereign wealth fund ADQ and real estate developer Aldar, which has an education subsidiary, are among the investors exploring a joint bid for CVC Capital Partners-backed GEMS.
GEMS, owned by founder Sunny Varkey and private equity group CVC Capital Partners, has been working with Goldman Sachs and Morgan Stanley on a potential sale.
According to the Bloomberg report, GEMS Education may look to open negotiations with other bidders, although the Abu Dhabi consortium has not ruled out further negotiation.
The firm may still also opt for a stock market listing as a potential exit route, said insiders.
GEMS Education has been linked with a full or partial sale for several years, with progress being delayed by the global Covid-19 pandemic and changes to Dubai school fees.
GEMS Education is world’s biggest private school operator, teaching 140,000 students from 175 countries.
Private schools in the emirate has seen a hike in enrolment of up to 4.5 percent. The city has also seen the opening of 22 new schools in three years, increasing the number of private schools in the Emirate to 216.
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