Dubai – Mubasher: NEMA Holding, a 35% subsidiary of Amanat Holdings and formerly known as the Abu Dhabi University Holding Company, has fully acquired Liwa College of Technology (LCT), an Abu Dhabi-based private higher education provider.
This acquisition is NEMA's second transaction in 2022 following the acquisition of the remaining 49% stake in Khawarizmi International College (KIC), according to a press release on Monday.
NEMA has fully funded both acquisitions through a combination of cash and debt.
NEMA's Chairman, Ali Saeed bin Harmal Al Dhaheri, commented: "With these acquisitions, we have grown our platform to three market-leading higher education brands; Abu Dhabi University, KIC, and LCT, collectively catering to more than 10,000 students across six campuses."
Meanwhile, Amanat's Chairman, Hamad Abdulla Alshamsi, said: "We believe the increased scale and diversification will allow NEMA to extract revenue and operational synergies."
