A group of Abu Dhabi entities are considering buying a stake in Dubai-based schools operator GEMS Education.
According to a Bloomberg report, the consortium of state-backed entities, which includes ADQ and real estate developer Aldar Properties, is considering making a bid, which would value GEMS at $6 billion.
GEMS operates schools primarily in Dubai, as well as Abu Dhabi, Al Ain, Sharjah, Fujairah, Qatar and Egypt, as well as in Asia, North America and Europe according to its website.
A school frees freeze in Dubai in 2019 followed by the pandemic impacted the education market, but schools in Dubai were permitted to increase fees for the academic year 2022-2023.
(Writing by Imogen Lillywhite; editing by Seban Scaria)