Malaysia’s Sovereign Wealthby Forbes Middle East Forbes Middle East - Business News
Dubai-based GEMS Education has begun 2018 by announcing that Malaysias sovereign wealth fund, Khazanah, has acquired a 3% stake in the firmwhich is the worlds largest operator of K-12 schools. Recommended Features
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Review on Malaysia’s Sovereign WealthKhazanah acquired the stake from the Varkey Group, which is the majority owner of GEMS and remains the largest shareholder in the company. In a press release from GEMS, Varkey Group said that it is committed to holding a majority controlling stake in GEMS, and the company will receive no proceeds from the sale. Beyond that, the terms of the transaction have not been disclosed.
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Created on Jan 3rd 2018 06:20. Viewed 43 times.
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