Abraaj eyes major Saudi investments
Dubai, April 18, 2012
Dubai-based private equity firm Abraaj Capital is looking at three to four investments in Saudi Arabia valued up to $150 million each, a senior executive said on Wednesday.
The Middle East's largest private equity firm will close one of these deals in the next three to four months, Ahmed Badreldin, senior partner at Abraaj, said on the sidelines of an industry event in Dubai.
"We are looking at three investments in Saudi Arabia currently. The equity contribution in those transactions would be between $100 to $150 million each," said Badreldin.
Abraaj has been pushing to expand its geographical footprint and recently bought UK-based specialist fund manager Aureos Capital. It is also investing $125 million in a Moroccan insurance holding firm.
Founded a decade ago, Abraaj has raised $7 billion since its inception. It owns stakes in a range of Middle East companies including Orascom Construction, budget carrier Air Arabia, supermarket Spinneys and education group Gems. - Reuters
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