Dubai’s Abraaj Sells Middlesex Campus to Amanat for $100 Million - Bloomberg:
Abraaj Group, the buyout fund that’s undergoing a court-supervised restructuring, reached an agreement to sell its stake in Middlesex University’s Dubai campus to Amanat Holdings PJSC for about $100 million, people with knowledge of the matter said.
An initial agreement has been signed and the deal is yet to close, the people said, asking not to be identified because the information is private. Dubai-based Amanat would own all of the U.K.-based university’s campus, which had annual revenue of about $40 million, one of the people said. Spokespeople for Dubai-based Abraaj and Amanat declined to comment.
Amanat shares climbed as much as 3.9 percent in Dubai, before paring gains to 1.6 percent at 11:30 a.m. The shares were poised for their biggest increase in more than a month. Dubai’s main stock gauge declined as much as 1.2 percent.
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