Abraaj Capital, the Middle East's largest private equity firm, has boosted investment in Egypt despite the country's political turmoil and is now eyeing the acquisition of an oil services firm, its chief executive said in remarks published on Tuesday.
"We are currently studying the acquisition of a firm in the field of petroleum services," Mustafa Abdel-Wadood said in an interview published in Egyptian newspaper al-Shorouk.
Dubai-based Abraaj manages assets of around $6 billion. Its total investments in Egypt are around $1 billion, Abdel-Wadood said, adding Abraaj has stakes in Egyptian groups Orascom Construction Industries and Al-Borg Laboratory.
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