FINANCIAL NEWS

Dubai’s Abraaj its stake in Acibadem Sigorta

30 Jul 2013

(MENAFN) Dubai-based private equity firm Abraaj Group is set to sell its 50 percent stake in Acibadem Sigorta to Malaysia’s state-run investment fund Khazanah Nasional Berhad, Reuters reported.

Acibadem Sigorta is a 50:50 joint venture between a holding company owned by Dubai-based Abraaj and Mehmet Ali Aydinlar, founder of Turkey’s Acibadem health group.

Khazanah Nasional also bought a 40 percent stake in the insurance firm held by Aydinlar family for cash.

Last year, Integrated Healthcare Holdings, a unit of Khazanah, bought Abraaj’s shareholding in Turkey’s largest hospital chain Acibadem Saglik to, in a deal which valued Acibadem Saglik at USD1.68 billion.

Abraaj currently has around USD7.5 billion in assets under management.

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