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Dubai’s GEMS Education owners mull $6bn stake sale

GEMS Education
Another option weighed is an initial public offering as a  potential exit route.

UAE-based private school operator GEMS Education is planning to sell a  controlling stake in the business or a market listing in a potential exit route, Bloomberg reported, citing people familiar with the matter.

Private equity firm CVC Capital Partners and GEMS founder Sunny Varkey may sell their stakes, which could be valued at as much as $6 billion.

CVC purchased its stake in the company in 2019.

The news report said that sovereign wealth funds in the Middle East and prominent financial backers are examining the opportunity.

Morgan Stanley and Goldman Sachs Group Inc. are assisting the owners in identifying buyers.

Another option weighed is an initial public offering (IPO) as a  potential exit route; however, the preferred option now is a sale.

Talks are ongoing, and there’s no certainty that CVC and Varkey will proceed with the stake sales.

GEMS operates more than 60 schools with over 130,000 students across the Middle East and North Africa. It also has schools in Asia, Europe and  North America.

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