Brookfield-Led Group Buys Stake in #Dubai School Operator GEMS Education - Bloomberg

Brookfield-Led Group Buys Stake in Dubai School Operator GEMS Education - Bloomberg

A consortium led by Brookfield Asset Management Ltd. is investing in GEMS Education, a Dubai-based family business founded by Indian immigrants who turned a single school into one of the world’s largest private education providers.

Financial details weren’t disclosed, but Bloomberg News has previously reported that the Canadian firm was looking to invest about $2 billion. That would make the transaction one of the largest private equity deals in a closely held business in the Gulf.

The company’s existing minority shareholders, including the Malaysian sovereign wealth fund Khazanah Nasional Bhd., will exit as part of this transaction. The move will also allow CVC Capital Partners to exit a majority of its GEMS stake, five years after it bought into the firm in a deal that marked its first private equity foray in the Gulf.

CVC remains “fully committed to investing further in this attractive region,” Ozgur Onder, head of the company’s Middle East operations, said in a statement.

Besides Brookfield, other investors include Dubai-based Gulf Islamic Investments, Marathon Asset Management and the State Oil Fund of the Republic of Azerbaijan, according to a statement. The deal is expected to close in the third quarter, subject to conditions.

Fisher Sells Stake of Up to $3 Billion to Advent, #AbuDhabi Fund - Bloomberg

Fisher Sells Stake of Up to $3 Billion to Advent, Abu Dhabi Fund - Bloomberg

Private equity firm Advent International and a unit of the Abu Dhabi Investment Authority are buying a minority stake in billionaire Ken Fisher’s Fisher Investments worth as much as $3 billion.

The transaction, in which the acquirers will invest at least $2.5 billion, values closely held Fisher at $12.75 billion, the money-management firm said Sunday in a statement. The deal is part of Ken Fisher’s estate planning, according to the company, and will let Fisher Investments continue to operate independently.

“While my health is excellent, this transaction with an atypically long holding period for a private equity transaction will ensure FI’s long-term private independence and culture should anything untoward happen to me,” Fisher, 73, said in the statement.

Bloomberg News and the Journal reported in January that Advent had held talks to acquire Fisher, both citing people with knowledge of the matter. At that time, Fisher issued a statement saying, “Fisher Investments is not being bought by Advent International, or anyone else — plain and simple.” Advent issued a similar denial of the January reports.

Kazakhtelecom to sell mobile asset to Qatari firm for $1.1 bln | Reuters

Kazakhtelecom to sell mobile asset to Qatari firm for $1.1 bln | Reuters

Kazakhtelecom (KZTK.KZ), opens new tab will sell MT-S, one of its two mobile communications subsidiaries, to Qatar's Power International Holding for $1.1 billion, the Kazakh government said on Tuesday.

Zhaslan Madiyev, Kazakhstan's digital development minister, said the new investor would also commit to expanding the MT-S network.

Shareholders in state-controlled Kazakhtelecom approved the sale this month, but the firm had not disclosed the sale price.

Kazakhtelecom controls more than 60% of Kazakhstan's mobile communications market through subsidiaries MT-S and KCell.