Liwa College of Technology is to be fully acquired by NEMA Holding for an undisclosed sum, according to a Dubai Financial Market (DFM) statement.
NEMA, formerly known as Abu Dhabi University Holding Company (ADUHC) is acquiring 100 percent of the Abu Dhabi-based college, which has 1,700 pupils, according to a bourse filing by Amanat today.
It follows NEMA’s acquisition of the remaining 49 percent Khawarizmi International College, also based in Abu Dhabi.
NEMA said both acquisitions were funded through a combination of cash and debt.
Together with Middlesex University Dubai, which is 100 percent owned by Amanat, the company now has a higher education platform catering to 14,000 students, the bourse filing said.
Amanat acquired a 35 percent stake in NEMA Holding in March 2018.
(Writing by Imogen Lillywhite; editing by Daniel Luiz)