Deals
World’s Biggest Private School Operator GEMS Seeks $1 Billion
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GEMS Education Ltd. is seeking to raise between $650 million and $1 billion as the world’s biggest privately owned provider of school education aims to expand before considering an initial public offering.
The company, based in Dubai, United Arab Emirates, is raising funds from debt, equity and real estate partnerships to build 21 new schools, including in the U.S. and U.K., in the next three years, Chief Operating Officer Dino Varkey said in an interview in Dubai last week. Some 130,000 students attend GEMS network of 100 schools in 11 countries. The company will also use money raised to boost capacity at 10 existing institutions.