Deals
Abraaj Liquidator Prefers Cerberus Bid Over Colony
- New York investor could reach deal to buy assets in weeks
- Colony’s offer for assets from embattled Mideast firm rejected
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Abraaj Group’s provisional liquidator prefers a lower offer from Cerberus Capital Management LP for assets of the embattled Dubai-based private equity firm over a rival bid from Colony Capital Inc., according to people familiar with the matter.
Deloitte, which is managing the provisional liquidation of Abraaj with PricewaterhouseCoopers, currently favors Cerberus and an agreement could be reached in the coming weeks, the people said, who asked not to be identified because negotiations are confidential. Colony Capital’s bid was turned down, the people said.