Dubai – Mubasher: Amanat Investments, the subsidiary of Amanat Holdings, has unilaterally terminated its agreement with SW Holding Limited for the sale of its 100% stake in Middlesex Associates through its fully owned subsidiary, AHE Alpha Limited.

The sale and purchase agreement on the share capital of AHE Alpha Limited was between Amanat, SW Holding Limited, and Study World Education Holding Limited, according to a press release on Wednesday.

Amanat fully reserves its rights under the agreement and at law to pursue such rights as it may deem necessary with the parties involved.

Commented on the decision, the CEO of Amanat, Mohamad Hamade, said: "The decision to terminate the SPA was on the basis of protecting the best interest of Amanat Holding’s shareholders and to ensure adequate transparency after what had become a prolonged completion process."

Hamade added: "Nonetheless we remain focused on and committed to exploring and seizing investment and exit opportunities with attractive valuations in the current investment climate. These include special situation opportunities that have arisen as a result of the pandemic or opportunities in the digital space."

It is noteworthy to mention that in July, Amanat was discussing selling Middlesex University’s campus in Dubai to Study World, which runs schools in the emirate, India, Sri Lanka, and Malta, sources told Bloomberg.