Monday 25 January 2010

Abraaj sees first Saudi deal within 6 months



Dubai-based private equity firm Abraaj Capital may close its first transaction in Saudi Arabia within the first half of the year with a deal most likely to be in healthcare or education, an executive said on Sunday.

The Middle East's biggest private equity firm, which has raised about $7 billion since inception in 2002, is yet to announce its first deal since opening its Saudi branch in May.

Tightening credit conditions in the kingdom have brought about more opportunities but "high valuations" were still a hurdle to the conclusion of deals, Sari Anabtawi, head of Abraaj's Saudi affiliate, told Reuters.

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