Latham & Watkins Represents Varkey Group on Brookfield Investment in GEMS Education

Latham & Watkins has advised Varkey Group on the investment by a consortium led by Brookfield Asset Management Ltd to invest in GEMS Education (GEMS), partnering with the Varkey Group. The Middle East’s largest leveraged buy-out, which completed today, included a multi-tranche sustainable linked facility led by a consortium of international and regional investors alongside a UAE banking consortium led by Dubai Islamic Bank PJSC.  As part of the transactions, funds managed by CVC Capital Partners will sell partially and retain a stake in GEMS.

With roots dating back to 1959 and founded by the Varkey family, GEMS Group, headquartered in Dubai, is a leading K-12 private education service institution in the UAE. It offers a diverse range of syllabi to more than 135,000 students in 61 schools operating across UAE, Qatar, and Europe. The GEMS group includes companies that provide auxiliary services for school transport, facility management, catering services, and school uniforms.

The Latham team was led by London corporate partners Nick Cline, Richard Butterwick, and James Inness, with associate Harry Redford. Additional advice on corporate matters was provided by London associates Harriet Stephenson, Faris Shoubber, Irene Brandão, Isabelle Knapton, and Madina Salavdiyeva; on employment matters by London counsel Shaun Thompson; and on antitrust and regulatory matters by London partner Jonathan Parker and associate Nadeem Brora.