Abu Dhabi investor gatecrashes Cerberus bid for Abraaj | Financial Times:
An Abu Dhabi investor has made a $55m bid for Abraaj’s fund management rights, seeking to outbid Cerberus Capital Management’s proposal for the embattled private equity group.
Abu Dhabi Financial Group, based in the capital of the United Arab Emirates, has made a new offer of $30m for the management rights to Dubai-based Abraaj’s funds and another $25m to sustain operations and make debt payments.
“This is a good offer, and they are confident they are in the best position with the right regional experience to make a success of this,” said a person aware of the bid.
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