Dubai-listed private equity house Amanat Holdings has exited its position in private school operator Taaleem, recording profit of $43.6 million on the sale of its 21.7% stake to an unidentified buyer.

The divestment, announced Thursday, will see Amanat generate a total cash return of 225 million dirham (£44.1 million), including dividends, and net income totalling $43.6 million.

The identity of the “strategic buyer”, which paid AED350 million for the stake in Taaleem, was not disclosed.

Hamad Alshamsi, Amanat’s chairman, said: “In line with our strategic objective to assess our existing portfolio and each investments’ suitability to our platform-model, we exited a minority position as an avenue to recycle the cash for other investment opportunities that are more strategically aligned as an influential shareholder.”

Amanat first acquired a 16.3 percent stake in Taaleem in April 2016 and then increased its stake to 21.7 percent by December 2017.

“This exit has given Amanat further balance sheet bandwidth to explore and seize investment opportunities that will support us on our journey to drive topline growth and improve our return profile as we continue to deliver shareholder value,” Alshamsi added.

Taaleem operates nine schools in the United Arab Emirates that collectively cater to around 12,000 students.

Date published: 29 April 2021

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