Amanat stake in education provider rises

dubai — Amanat Holdings has announced that it has increased its ownership in Taaleem Holdings to 21.7 per cent for a total investment of Dh52 million.

In April 2016, Amanat acquired a 16.34 per cent stake in Taaleem Holdings for Dh146 million. The new investment represents a 5.3 per cent additional stake in Taaleem Holdings, making Amanat the largest shareholder in Taaleem.

Taaleem Holdings is one of the providers of early childhood, primary and secondary education. The group currently operates through 10 facilities (seven schools and three nurseries) in the UAE and has a capacity of 11,000 students with current enrolment figures of around 9,000 students. It offers education across multiple curricula, including British, American and International Baccalaureate.

Hamad Al Shamsi, chairman of Amanat Holdings, said: “Today, we are further strengthening this partnership through acquiring a bigger stake in Taaleem and I look forward to exploring the next potential growth opportunities together.”

Dr Shamsheer Vayalil, vicechairman and managing director of Amanat, said: “We are very proud of the progress Taaleem has accomplished since our investment last year and we continue to be committed to working alongside them to ensure that the group delivers worldclass education. Today, Taaleem’s operations spans across Dubai and Abu Dhabi, with two schools scoring an outstanding rating in each emirate.”

— business@khaleejtimes.com