Dubai Islamic Bank leads landmark $3.25bln financing transaction for GEMS Education
Summary
Adnan Chilwan, Group Chief Executive Officer at DIB, commented: We are proud to have led the largest leveraged buy-out transaction in the region, reflecting the Banks strong structuring and underwriting capabilities. DIBs pivotal role in putting this deal together over a period of several months highlights the depth of its relationship with key clients like GEMS and its ability to bring in and manage multiple stakeholders in what has been a very complex transaction.Dr. Chilwan added, We remain committed to UAEs growth and sustainability agenda by supporting pivotal sectors such as education, which are crucial to the nations long-term socio-economic development.Sunny Varkey, Founder of GEMS Education, said, "We are pleased to announce the successful closure of a major financing package that will propel GEMS towards sustainable growth. Serving over 3 million customers across the Group, DIB offers an increasing range of innovative Shariah compliant products and services to retail, corporate and institutional clients.In addition to being the first and largest Islamic bank in the UAE, DIB has a significant international presence as a torchbearer in promoting Shariah-compliant financial services across a number of markets worldwide. DIB has won a range of accolades that are testament to these efforts across diversified areas, including retail, corporate and investment banking, as well as CSR and consultancy services.