Blackstone-Backed GEMS Chooses London IPO Over Stake Sale - Bloomberg:
"GEMS Education is set to move ahead with an initial public offering, rebuffing interest from a private equity firm for a stake in the school operator backed by Blackstone Group LP, according to people with knowledge of the matter. The Dubai-based education provider may announce plans as early as this week to list in London, the people said, asking not to be identified because the matter is private. GEMS owners -- founder Sunny Varkey, Blackstone, Fajr Capital Ltd. and Bahrain’s Mumtalakat Holding Co. -- had been approached by a private equity company to buy a stake, they said. GEMS planned to hire investment banks including Bank of America Corp., Credit Suisse Group AG, JPMorgan Chase & Co. and Emirates NBD PJSC to manage the IPO, people familiar with the matter said in December. The company could be valued at about $4 billion or more, people said last year."
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