Abu Dhabi Sheikh Is Said in Talks to Buy Stake in Amanat - Bloomberg:
A company backed by a member of Abu Dhabi’s royal family is in talks to buy a stake in Amanat Holdings PJSC, an investment firm with interests in health and education, according to people with knowledge of the matter.
One of the businesses led by Sheikh Tahnoon Bin Zayed Al Nahyan is in early-stage discussions to invest in Amanat, which has a market value of about $524 million, the people said. It wasn’t immediately clear which entity Sheikh Tahnoon would use for the potential transaction, according to the people, who asked not to be identified because the information is private.
Any deal would add to a buying spree by companies under Sheikh Tahnoon’s control as the emirate uses the coronavirus pandemic to snap up stakes in key industries such as food supply and health-care. Abu Dhabi, holder of about 6% of the world’s oil reserves, recently agreed to buy a stake worth more than $1 billion in one of the Middle East’s largest hypermarket chains as it seeks to diversify its economy away from crude.
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