Deals
Abraaj Investors Prefer $1 Actis Bid to Gulf Offers
- Actis emerging-markets expertise appeals to funds’ investors
- Brookfield, Colony said to be likely buyers of other assets
Skyscrapers stand around the Dubai Marina district.
Photographer: Razan Alzayani/Bloomberg
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Actis’s $1 bid for the Middle East and North Africa private equity operations of Abraaj Group is favored by investors in the funds, despite higher offers linked to Persian Gulf-based firms, according to people familiar with the matter.
Investors in the Abraaj funds would prefer to see the assets sold to an international private equity firm as part of a liquidation of the company, the people said. The bid by London-based Actis is ranked ahead of offers from Abu Dhabi Financial Group and Kuwaiti logistics firm Agility, which is making a joint bid with Centerbridge Partners, the people said, asking not to be identified as the information is private.