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FINANCIAL NEWS
UAD Abraaj sells stake in Condor Travels to The Carlyle
26 Aug 2015
(MENAFN) UAE-based private equity firm the Abraaj Group has announced that it is selling its stake in Peru-based tour operator Condor Travels to The Carlyle Group.
The company did not disclose the size of the stake sold or the value of the deal. The transaction is expected to close by the end of September.
The exit from Condor Travels was done via Abraaj’s Latin American Fund and is Abraaj’s fourth exit from the fund in the last 12 months.
“We believe there is an excellent opportunity to add significant value to high growth businesses,” said Abraaj’s partner and regional head of Latin America.
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