Brookfield Asset Management (BAM)-backed GEMS Education in Dubai is among the companies that have submitted initial bids for Riyadh, Saudi Arabia-based school company Ajialuna Education, Bloomberg reported Monday, citing people familiar with the matter.

The report added that Sulaiman Alrajhi Holding, which has majority ownership of Ajialuna, is seeking to sell its entire stake. Bloomberg further reported that several other local investors have also made non-binding offers.

The report added that Ajialuna has more than 14,000 students across Saudi Arabia through a mix of private and international schools and has school brands including Al Forsan International Schools, with campuses in Riyadh, Al-Khobar, and a newly opened site in Jeddah.

In June 2024, a consortium led by Brookfield entered into an agreement to invest in GEMS Education.

Brookfield and GEMS Education did not immediately respond to MT Newswires' request for comment, while Sulaiman Alrajhi and Ajialuna Educational could not be contacted.

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