UPDATE 1-UAE's GEMS buys Saudi Arabia's biggest private school group Ma'arif - Reuters:
United Arab Emirates-based GEMS Education has expanded into Saudi Arabia by buying Ma’arif Education Group, the largest private school owner and operator in the kingdom, through a joint venture with Hassana Investment.
GEMS, the Middle East-focused education group whose investors include Blackstone, said in October it may invest $800 million with Hassana over the next decade to develop a network of schools in Saudi Arabia.
GEMS, which is majority owned by Dubai-based Varkey Group, said in a statement that it had signed an agreement to acquire Ma’arif, which has more than 22,000 students across its national and international schools in Saudi, with Hassana.
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