Abraaj Capital Ltd., the Dubai-based private equity company managing about US$6.2 billion, may hire Morgan Stanley as an adviser on the planned acquisition of a stake in Egyptian private equity firm Citadel Capital SAE, two people familiar with the situation said.
Citadel Capital Partners, the main shareholder in Citadel Capital, may hire Citigroup Inc. to advise on the possible sale, the two people said, speaking on condition of anonymity because the talks are private. One person said Abraaj is seeking a controlling stake in Citadel Capital.
One of the hurdles to the sale is that Citadel Capital Partners needs to provide legal representations and warranties before the sale, one of the people familiar said.
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