For a part of the school operator backed by Blackstone Group LP, GEMS Education, one of the leading international education companies, is expected to accept an initial public offering to rebuff interest from the private equity firm, according to Bloomberg Bussiness Week. However, this news was based on speculations by a certain group of people, who prefer to remain unidentified.
The Dubai-based education provider may announce plans as early as this week to list in London, the group of people added. On the other hand, officials from GEMS Education came out and stated that these are merely rumors and they refused to comment on what has been going around.
In addition, according to statements made by GEMS Educations last year that was reported by Bloomberg that “GEMS planned to hire investment banks including Bank of America Corp., Credit Suisse Group AG, JPMorgan Chase & Co. and Emirates NBD PJSC to manage the IPO, people familiar with the matter said in December. The company could be valued at about $4 billion or more”.
Blackstone Group is an American multinational private equity, alternative asset management, and financial services firm.