#Dubai-based GEMS buys largest #Saudi private school operator | Financial Times

Dubai-based GEMS buys largest Saudi private school operator | Financial Times:

Dubai-based GEMS Education and a Saudi Arabian state-run pension fund have acquired the kingdom’s largest private school operator, expanding into the country as the Gulf monarchy seeks to deepen economic reform.

GEMS, one of the world’s largest private education providers, did not reveal financial details, but a person briefed on the deal valued the investment between $500m-$600m.

The purchase of Ma’arif Education Group, which has more than 22,000 students enrolled in national and international schools, cements GEMS’ partnership with Hassana Investment Company, the investment arm of the state-run pension fund the General Organisation for Social Insurance.