GEMS Education plans to raise $500 million from stake sale | GulfNews.com

GEMS Education plans to raise $500 million from stake sale | GulfNews.com:

"GEMS Education, a Dubai-based schools operator, is seeking to raise about $500 million (Dh1.836 billion) to fund growth by selling a stake of up to 20 per cent in the privately owned company, Chairman Sunny Varkey said on Monday.
GEMS, which employs about 11,000 staff, operates around 100 private schools across the Gulf region, home to many prosperous expatriates. Private schools in countries such as the UAE are expanding rapidly as demand surges along with economic growth.
“We are a company that is growing. We are looking to raise approximately $500 million in the near term,” Varkey said."

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