The Abu Dhabi-based college has 1,700 pupils and is to be acquired by NEMA Holding, which is part owned by Dubai-listed Amanat

Liwa College of Technology is to be fully acquired by NEMA Holding for an undisclosed sum, according to a Dubai Financial Market (DFM) statement.

NEMA, formerly known as Abu Dhabi University Holding Company (ADUHC) is acquiring 100 percent of the Abu Dhabi-based college, which has 1,700 pupils, according to a bourse filing by Amanat today.

It follows NEMA’s acquisition of the remaining 49 percent Khawarizmi International College, also based in Abu Dhabi.

NEMA said both acquisitions were funded through a combination of cash and debt.

Together with Middlesex University Dubai, which is 100 percent owned by Amanat, the company now has a higher education platform catering to 14,000 students, the bourse filing said.

Amanat acquired a 35 percent stake in NEMA Holding in March 2018.

zawya