Deals
Blackstone-Backed GEMS in Talks to Buy Top Saudi School Chain
- Maarif has over 100 Arabic, International curriculum schools
- Owners seeking to sell a part or whole of the school group
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GEMS Education, the Dubai-based school operator backed by Blackstone Group LP, is in advanced talks to invest in Saudi Arabia’s Maarif for Education & Training chain of schools, according to people with knowledge of the matter.
The deal for the largest owner and operator of private schools in the kingdom could be worth about $400 million, the people said, asking not to be identified because the discussions are private. Samba Capital is advising the owners who are seeking to sell all or part of the company, the people said. A final decision hasn’t been made and the company’s plans could change, they said.