A group of private equity investors, including Dubai-based Fajr Capital, U.S. Blackstone and Bahrain's Mumtalakat, is weighing the sale of its combined stake in the emerging market business of UAE's Gems Education, a school operator.
The consortium has held preliminary talks with investors about an outright sale of the more than 20 percent stake after Gems shelved its plan to list the schools' operator in London.
The stake is valued at about 3.67 billion dirhams ($1 billion).
Gems generated revenues of between $1 billion and $1.02 billion in the financial year that ended in August and earnings before interest, tax, depreciation and amortization of between $275 million and $285 million.