Amanat exits Taaleem for AED 350m
- Date: 29-Apr-2021
- Source: Mubasher
- Sector:Financial Markets
- Country:UAE
Amanat exits Taaleem for AED 350m
Dubai –Mubasher: Healthcare and education investment company Amanat Holdings sold its 21.7% stake in Taaleem Holdings in an AED 350 million transaction to an undisclosed strategic buyer, according to a bourse filing on Thursday.
Amanat has generated a total cash return of AED 225 million, including dividends. The listed company is expected to report AED 160 million worth of net gain on sale as net income.
Taaleem Holdings was Amanat's first investment in the education sector in the UAE, Chairman of the listed company Hamad Alshamsi said.
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