KUALA LUMPUR, Jan 2 (Bernama) -- Khazanah Nasional Bhd has acquired a three per cent stake in Dubai's education group GEMS Menasa Holdings Ltd.
In a statement to Nasdaq Dubai today, GEMS Menasa's unit, GEMS Menasa Cayman Ltd (GEMS) said the stake was acquired from Varkey Group, the majority owner of GEMS.
"The investment adds to Khazanah's existing indirect interest in GEMS, via its shareholding in Fajr Capital, the Dubai-based private equity investor that led the 2014 acquisition of a minority stake in GEMS by an investor consortium, including Bahrain's sovereign wealth fund Mumtalakat and Blackstone," it said.
GEMS said Khazanah's investment was structured as a purchase of existing shares in its parent entity, GEMS Menasa Holdings Ltd, from VG.
"Following the sale, VG remains the largest shareholder in the company and committed to holding a majority controlling stake in GEMS.....