Dubai –Mubasher: Healthcare and education investment company Amanat Holdings sold its 21.7% stake in Taaleem Holdings in an AED 350 million transaction to an undisclosed strategic buyer, according to a bourse filing on Thursday.
Amanat has generated a total cash return of AED 225 million, including dividends. The listed company is expected to report AED 160 million worth of net gain on sale as net income.
Taaleem Holdings was Amanat’s first investment in the education sector in the UAE, Chairman of the listed company Hamad Alshamsi said.
“The sale of this asset is a significant milestone for Amanat and marks its first exit in five years at a very attractive return,” Alshamsi noted.
Amanat earlier acquired Cambridge Medical Rehabilitation for an enterprise value of $232 million from emerging market focused private equity company TVM Capital Healthcare.
