Abraaj said to sell Dubai campus to Amanat Holdings for $100m

An Emirati man looks out from the Dubai Creek Habour Development towards the Burj Khalifa tower, center, and other skyscrapers in Dubai, United Arab Emirates, on Monday, June 18, 2018. Photographer: Christopher Pike/Bloomberg

Abraaj Group, the buyout fund that’s undergoing a court-supervised restructuring, reached an agreement to sell its stake in Middlesex University’s Dubai campus to Amanat Holdings PJSC for about $100 million, people with knowledge of the matter said.

An initial agreement has been signed and the deal is yet to close, the people said, asking not to be identified because the information is private. Dubai-based Amanat would own all of the U.K.-based university’s campus, which had annual revenue of about $40 million, one of the people said. Spokespeople for Dubai-based Abraaj and Amanat declined to comment.

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