Saudi Arabia's largest operator of private schools Ma’arif for Education & Training is in talks to sell its business in the Kingdom, Reuters reported, citing informed sources.
The company is looking at either an outright sale or spinning off assets through a real estate investment trust, it added.
Ma’arif, which is owned by the Al Blehed family, is working with Samba Capital, the investment banking arm of Samba Financial Group. The potential deal could fetch as much as $1.5 billion if it includes the real estate holdings where the schools are located.
According to the company website, it runs more than 100 schools across the Kingdom, offering Arabic, British and American curricula.
In May, Boston Consulting Group said the education market in Saudi Arabia is expected to more than double to $12 billion in 2023 from $5 billion in 2017.
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