A consortium comprising ADQ Holdings and Aldar Properties has appointed advisors to a bid for the Dubai-based GEMS Education Group, one of the world's largest operators of private schools.
According to Bloomberg, the consortium appointed Standard Chartered Bank and Rothschild Corporation as advisors.
She added that GEMS Education is working with Goldman Sachs and Morgan Stanley to complete the potential sale, which could be worth over $6 billion.
According to the website of the Gems Education Company, it was founded by an Indian teacher in the UAE in 1959, and is mainly active in Dubai - where it is headquartered - and says that it is the largest provider of private basic education services in the world and owns and operates more than 60 schools in the Middle East, North Africa, Asia and Europe And America.
GEMS Education offers a variety of educational options according to the curricula (British, American, Indian and International Baccalaureate).
It also runs other activities within the School Support Services, including school bus transportation, school uniform sales, sports management services, and after-school activities.
The family company is currently managed by Sunny Varkey, who is the third generation of the founder's grandchildren, but several investment funds have varying stakes in it.