Amanat snaps up Dh320m stake in Abu Dhabi-based education operator

The company bought a 35% stake in Abu Dhabi University Holding Company as it builds its its investment portfolio

Abu Dhabi, UAE. March 25th 2017. The Abu Dhabi skyline during Earth Hour 2017 when, between 20:30 and 21:30, a WWF initiative encrouages residents and businesses to turn off their lights. In Abu Dhabi, Earth Hour achieved mixed results, with many buildings along the skyline keeping their lights on. Alex Atack for The National.  *** Local Caption ***  250317_EarthHour-1.jpg
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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.”


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%


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.