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FINANCIAL NEWS
Abraaj exists Condor Travel stake to Carlyle
29 Aug 2015
(MENAFN) Dubai-based Abraaj Group has announced the signing of an agreement to exit its stake in Condor Travel to The Carlyle Group.
The exit, through Abraaj’s Latin American Fund, marks the first secondary private equity sale in Peru, and Abraaj’s fourth exit from the fund in the last 12 months.
Over the course of its investment, Abraaj said it has helped Condor Travel expand its service offerings and enhance its regional footprint.
The diversification of services offered, in addition to the establishment of a new subsidiary in Chile, helped increase Condor Travel’s sales globally, and augmented its reputation as the leading specialty operator for tourists to Peru.
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