January 21, 2022 01:22


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News


(2018-06-14) Abraaj sells entire stake in Orascom Construction
Embattled private equity firm Abraaj has sold its entire 5.4 percent stake in Orascom Construction Ltd for about $52 million. The move came after the company crossed a 5 percent filing threshold on June 6, Abraaj said in statement in Dubai. Abraaj is facing two lawsuits from creditors over the non-payment of debt and is battling allegations that it misused investor money in a $1 billion healthcare fund, a charge it denies.