Abraaj expects deal on secured debt, Kuwaiti creditor holds out | Reuters:
"Private equity firm Abraaj said on Monday it hopes to reach a deal with its secured creditors, although sources said that a Kuwaiti unsecured creditor was holding out, potentially stalling the sale of its investment management business. Dubai-based Abraaj Holdings is trying to push through a sale of Abraaj Investment Management to New York-based Cerberus Capital Management as it tries to stem the fallout from allegations it misused investor money in a $1 billion healthcare fund. Abraaj, which is the Middle East and Africa’s biggest private equity fund, denies any wrongdoing."
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