Dubai School Operator GEMS Education’s Talks With Abu Dhabi Group Stalls - Bloomberg
Dubai-based GEMS Education is considering options for the business after talks to sell a controlling stake to a consortium of Abu Dhabi state-backed entities stalled over valuation, according to people familiar with the matter.
Wealth fund ADQ and real estate developer Aldar Properties PJSC haven’t been able to agree on a price with the owners of GEMS, who were seeking to sell a stake at a $6 billion valuation, the people said, asking not to be identified discussing private information.
The firm may now look to invite other bidders or consider listing the business, the people said. Talks with the Abu Dhabi bidders, which began late last year, have not officially ended and could still be restarted at a later date, they said.
No comments:
Post a Comment