Dubai Health-Care Startup Plans $476 Million Gulf Spending Spree - Bloomberg:
"Amanat Holdings, the Dubai startup that’s selling shares to the public this month, plans to spend about 1.75 billion dirhams ($476 million) buying stakes in three to six health-care and education companies.
The company will devote 70 percent of its 2.5 billion-dirham capital to make the investments in the next 12 to 14 months, Chairman Faisal Bin Juma Belhoul said at a news conference in Dubai today. Amanat will target acquisitions mainly in Saudi Arabia and the United Arab Emirates, the two largest economies in the Gulf Cooperation Council, he said.
“The company has a pipeline of opportunities that will be looked upon after incorporation,” Belhoul said. “We will be in two very attractive sectors that are underserved now.”"
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