Exclusive: Bahrain's Mumtalakat has $15bn under management and open to exiting GEMS - The National:
Mumtalakat, the sovereign wealth fund of Bahrain, is now managing about $15 billion in assets and is open to selling its stake in GEMS Education, its chief executive said on Wednesday.
"If the opportunity arises, we will leave [GEMS]. If there's a long-term prospect then we don’t mind [staying]," Mahmood Alkooheji said in an interview with The National at the Future Investment Initiative conference in Riyadh.
Blackstone, Dubai-based Fajr Capital, Mumtalakat and the Varkey Group, which is a majority owner in the education provider, are considering selling some or all of their stakes in GEMS in a deal that could value it at about $4 billion, Bloomberg reported earlier this month. GEMS, which owns and operates 47 schools and nurseries across the GCC, was slated to list in London but delayed its initial public offering according to media reports in June.
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