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FINANCIAL NEWS
Dubai-based Abraaj to exit investments in 2013
10 Apr 2013
(MENAFN) Abraaj Group’s senior partner, Ahmed Badreldin, announced that in order to raise new capital, in 2013, the Dubai-based private equity company plans to exit several investments, reported Arabian Business.
Badreldin added that the company will sell between 2 and 3 investments, and will focus on other investments in the Middle East and North Africa (MENA) region.
According to a February report by Bloomberg, Abraaj was looking to sell its stake in Beirut-based Spinneys, in which it is the 2nd-largest shareholder, however, a spokesperson for the company declined to comment on the matter.
In addition to its stake in Spinneys, Abraaj, which has nearly USD7.5 billion in assets under management at the current time, has stakes in budget carrier Air Arabia and private education firm GEMS.
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