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Bahrain’s GFH inks $150m deal with UK’s Inspired

Inspired has signed a $150m agreement to acquire part of GFH Financial Group's $300m school portfolio in the GCC

Inspired has signed an education agreement with Bahrain's GFH.
Inspired has signed an education agreement with Bahrain's GFH.

Bahrain-headquartered GFH Financial Group has announced signing an education agreement with Inspired, a UK group that operates schools in Europe, Africa, Latin America, and Australia.

GFH revealed in a statement that the deal, which is worth $150m (BHD56.6m), will see part of its $300m (BHD113.1m) school portfolio in the GCC being acquired by Inspired.

Commenting on the deal, Hisham Al Rayes, chief executive officer of GFH, said: “We are pleased to announce this agreement with Inspired, which has an enviable track record of operating leading premium schools across four continents.

“Their network and experience will add significant value to the schools, including offering both students and teachers opportunities to take part in exchange programmes and benefit from the latest programmes, to enhance the level of education and create a unique learning environment in the region.”

Read: Bahrain’s GFH completes acquisition of $1.2bn infra portfolio

Meanwhile, Nadim Nsouli, founder and group chairman of Inspired, added: “This agreement marks the entry point of Inspired in the region. Inspired is focussed on making the British School of Bahrain the leading school in the GCC and will evaluate other school acquisitions in the region with GFH.”

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Jan 19, 2019