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Abraaj completes deal to sell 13.6% stake in UAP Holdings

The Abraaj Group, the UAE-based private equity firm, has announced the completion of the deal to sell its 13.6% stake in UAP Holdings , the pan-African insurer, thereby fully exiting its position in the firm. The value of the transaction was not reported.

In January this year, Old Mutual agreed to spend $155.5 million in cash to acquire stakes owned by Abraaj, AfricInvest and Swedfund, increasing its stake in UAP to 60.7%. Abraaj first invested in UAP alongside Africinvest and Swedfund in March 2012. 

Read more at Gulf Business…

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