Tuesday 19, June 2018 by Kudakwashe

ADFG makes $50 million offer to Abraaj

 

A unit of Abu Dhabi Financial Group (ADFG) has made a conditional offer to buy Abraaj's management interest

  

Abu Dhabi Capital Management (ADCM), an ADFG entity has made a conditional offer to buy embattled private equity firm Abraaj's management interest in all of its limited partnerships for $50 million.

Cayman Islands based ADCM, wants to become the General Partner of the LPs, which have committed money to Abraaj's various private equity funds.

ADCM stated the terms of the offer in a letter to Abraaj's financial advisor Houlihan Lokey HLI.N on 17 June, which also said the buyer shall not buy any companies owned by Abraaj and its affiliates and will not take any liabilities, reported Reuters.

 

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