UAE's Amanat to sell Middlesex University Dubai

Firm signs agreement for 'potential sale' with another UAE firm

  
Students walk past the Middlesex University Dubai in Dubai July 21, 2010. Image for illustrative purposes.

Students walk past the Middlesex University Dubai in Dubai July 21, 2010. Image for illustrative purposes.

REUTERS/Mosab Omar

Dubai's Amanat Holding is planning to sell Middlesex University’s Dubai campus, it has been confirmed.

The Dubai-listed company, which has investments in healthcare and education sectors, said on Monday that it has signed a sale and purchase agreement for the “potential sale” of the school in UAE.

The deal was signed with Study World Education Holding Group, which is also based in Dubai.

The sale has not concluded yet, as it is still subject to regulatory approvals, the company said in a bourse filing with the Dubai Financial Market (DFM).

“The transaction is subject to the satisfactory completion of customary conditions, including regulatory approvals and estimation of final consideration,” Amanat said.

“Amanat will update the market if and when there are any material developments in this regard in accordance with the disclosure and transparency rules,” it added.

In February this year, Amanat reported a 39.8 percent year-on-year profit of 60 million UAE dirhams for 2019.

(Reporting by Cleofe Maceda; editing by Seban Scaria)

cleofe.maceda@refinitiv.com

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