Dubai’s Abraaj stops acquisition talks with Citadel Capital

27 Jul 2011

(MENAFN) Dubai’s Abraaj Capital said that it no longer had plans to purchase a stake in Citadel Capital, the Egyptian private equity company, reported Arabian Business.

Abraaj added that for the past two months, the company was in negotiations with Citadel’s management over the possibility of an acquisition, but the two parties didn’t reach any agreement.

It also said that although the company didn’t reach a deal with Citadel, it would keep plans to expand its investments in Egypt and in the Middle East North Africa South Asia (MENASA) region.

It is worth noting that Abraaj, a private equity company, always searches for possible investment opportunities in the MENASA region.

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