Mubasher TV
Contact Us Advertising   العربية

GFH acquires international university in Bahrain for $100m

GFH acquires international university in Bahrain for $100m
GFH will take the lead in the management of the universit
GFH
GFH
0.00% 1.12 0.00

Mubasher: GFH Financial Group has acquired AMA International University-Bahrain (AMAIUB) in exchange for $100 million to increase the Group's regional investments in the educational sector.

GFH will take the lead in the management of the university on behalf of its partners, strengthening its local and regional education portfolio currently valued at $250 million, according to a press release on Tuesday.

Established in 2002, the university provides local and regional students with international standard undergraduate and graduate programmes in the fields of finance and business administration, computer science, and engineering.

AMAIUB, the second-largest university in Bahrain, is the first and only ABET-accredited private university in the country, with accreditors from world-renown institutions such as Harvard and MIT.

The transaction is expected to have a positive effect on the Group’s financials and raise its returns.

The CEO of GFH, Hisham Alrayes, said: "Investment in the education sector, among the fastest-growing the GCC region today, forms one of the key pillars of our strategy and we are focused on continuing to diversify and strengthen our portfolio with the addition of unique assets, like AMAIUB."

It is noteworthy to mention that in November, the Group has acquired Bahrain-based Athena Private School for Special Education for over $250 million.

GFH is listed on Bahrain Bourse (BHB), Boursa Kuwait, and the Dubai Financial Market (DFM).