Dubai-listed Amanat Holdings has increased its stake in UAE education company Taaleem Holdings to 21.7 per cent for a total investment of Dhs52m ($14.1m).
The company previously acquired a 16.34 per cent stake in Taaleem in April 2016 for Dhs146m $39.7m). The additional 5.3 per cent stake makes it the largest shareholder in the K-12 primary and secondary education provider.
Investment Corporation of Dubai-owned National Bond Corporation, which established the company in 2007, is believed to be among the other shareholders.
Taaleem has seven schools and three nurseries in the UAE with a total capacity for 11,000 students and enrolment of around 9,000, according to the announcement.
“Today, I am delighted that we are further strengthening this partnership through acquiring a bigger stake in Taaleem and I look forward to exploring the next potential growth opportunities together,” said Amanat chairman HE Hamad Al Shamsi.
“Taaleem Holdings was our first investment in the Education sector in the UAE, and we were always keen on increasing our stake in it at the right price as we firmly believed in its model and positioning.”