UAE’s Amanat terminates deal to sell Dubai university campus

UAE’s Amanat terminates deal to sell Dubai university campus

Amanat Holdings, the GCC's largest healthcare and education investment company, on Wednesday said it has terminated plans to sell Middlesex University Dubai to Study World Education Holding Group.

Amanat said in a filing to Dubai Financial Market that it decided to unilaterally terminate the agreement signed in July.

Sale confirmed in posting to Dubai Financial Market, subject to regulatory approvals

Dr Mohamad Hamade, CEO of Amanat, said: “While we were enthusiastic about completing the transaction, we took the decision to terminate the agreement despite Amanat having completed all its obligations... The decision to terminate was on  the basis of protecting the best interest of Amanat Holding's  shareholders and to ensure adequate transparency after what had become a prolonged completion process."

He said the company "remains focused" on and committed to exploring and seizing investment