Amanat Holdings, a Dubai-headquartered health and education sectors speciality investment firm, is spending Dh320.4 million for a 35 per cent stake in Abu Dhabi University Holding Company (ADUHC) as it builds its portfolio in the domestic market.
The company, which predominantly invests in the UAE and Saudi Arabia, the two biggest Arabian Gulf economies, said the deal is in line with the company’s growth strategy and gives it access to a market leader operating in the private higher education, vocational and corporate training sectors.
“This move complements our K-12 platform, and confirms Amanat’s emphasis on the growing GCC education sector …. [through] complementary portfolio of quality institutions,” Hamad Al Shamsi, the chairman of Amanat, said in a statement on Tuesday. “We are committed to investing in the things that we believe matter most which are healthcare and education.”
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Read more:
Amanat Holdings 2017 net income climbs 10%
UAE's Amanat buys additional stake in education provider Taaleem
UAE's Amanat third quarter net profit surges 15.2%
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ADUHC, which has operations in Abu Dhabi and Al Ain, has recently expanded to Dubai and Al Dhafra region. The group operates a number of subsidiaries that service the group’s entities in real estate, facility management, human resources and project and event management sectors, according to the statement.
The company in December, increased its stake in UAE's K-12 primary and secondary education operator, Taaleem Holdings, to 21.7 per cent, becoming its largest investor.
Amanat, which holds healthcare sector investments in Saudi Arabia, in February posted a 10 per cent increase in full-year 2017 net profit, boosted by income from associated businesses.
Net income for the period rose to Dh42.3 million, while its revenue grew 6 per cent year-on-year to Dh89.5m. Excluding a one-off charge, income from Amanat's associate businesses rose 65 per cent to Dh33.3m, it said at the time.
The portfolio companies of Amanat Holdings are getting closer to being ready for initial public offerings and may seek listings on regional stock exchanges within two to four years, company officials told The National in October.
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Game Changer
Director: Shankar
Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram
Rating: 2/5
German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
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COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
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Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants