GEMS founder said to be in talks to sell stake in company - Arabianbusiness:
The founder of Dubai-based GEMS Education held talks to sell some of his majority stake in the private-school operator to raise as much as $200 million, according to people with knowledge of the matter.
Sunny Varkey, who transformed GEMS into one of the world’s largest private education providers, is working with Rothschild & Co. to find potential investors, the people said, asking not to be identified as the matter is private.
The bank has recently struggled to find any interested parties because of the coronavirus pandemic and the discussions may not result in a deal, the people said. Representatives for GEMS and Rothschild declined to comment.
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