SAO PAULO: The asset management arm of UAE's investor Mubadala Investment Co PJSC has acquired control of two for-profit medical universities in Brazil, it said in a statement.

Mubadala Capital acquired from the for-profit education group Rede UniFTC two medical schools in the northeastern state of Bahia that have around 2,000 students. Rede UniFTC will keep a minority stake in the two schools after the deal.

The value of the deal was not disclosed. Thiago Sayao, former president of Adtalem Global Education's unit in Brazil, will be CEO of a new company holding the medical schools.

Reporting by Tatiana Bautzer Editing by Chris Reese and Cynthia Osterman