Business & Money | Thursday 7 May, 2015 1:50 am |

SEDCO Holding Group, a leading Shariah-compliant private wealth management organization, has acquired a 50% stake in Mektebim Okullari, a leading, fast growing company operating in the private education sector in Turkey.

Anees Moumina, CEO of SEDCO Holding Group, and Ümit Kalko, Mektebim’s founder and Chairman, signed the accord.

Under a partnership agreement with the Turkish company which currently operates 17 schools from pre-school to high school levels, SEDCO Holding Group will own 50% of the company’s shares and play an active part in the company’s ambitious growth strategy in the region.

The schools currently have over 4,000 students and Mektebim Okullari will add 8 more schools this year to its portfolio and has many other projects under consideration.

The private education sector in Turkey is one of the fastest growing in the world. It is expected to grow from 4% of the overall education sector to about 20% in the near future. This promising outlook has attracted several major investments in the last few years.

Commenting on the agreement, Anees Moumina, said: “We as a Group welcome and look forward to solid and prosperous new partnerships with companies, and this falls under our investment strategy which is approved by the Board of Directors.”

“Our experience and portfolio of successful diversified investments encourages the Group’s expansion in direct investments and in promising sectors. This action is in line with our extensive research to seek new acquisition opportunities and create valuable partnerships and contributions which offer high return on investments,” Moumina further said.

Ümit Kalko, Founder of Mektebim Okullari, welcomed the partnership, and said: “Metebim’s expansion focuses on thriving business deals and partnerships. As a company, we pride ourselves with the exerted efforts in the outreach of new investment plans and we are confident that this partnership will lead to strong, sustained growth for the Company based on the complementary expertise of both partners.”