United Arab Emirates

Results for United Arab Emirates

Some Investors Want New Abraaj Review, Potentially Delaying Key Sale

Some investors in funds managed by Dubai-based Abraaj want to block the sale of assets to Colony Capital pending a review of Abraaj’s handling of funds, according to a report seen by Reuters, potentially delaying a deal key to the survival of the investm ...

Daily Headline - global.abi.org - 07/12/2018 - 22:54 - 0 comments

Case Against Abraaj Founder Adjourned as Deal Talks Move Forward

A Sharjah court judge on Thursday adjourned the case against Abraaj founder Arif Naqvi for issuing a $48.2m cheque with insufficient funds as talks to settle the debt move ahead, the Financial Times reported. Adjournment until July 11 comes after lat ...

Daily Headline - global.abi.org - 07/05/2018 - 22:49 - 0 comments

Etihad EA Partners Bonds Slide Ahead of Restructuring Talks

Bonds issued by EA Partners, a special purpose vehicle linked to Etihad Airways, fell to the lowest on record this week after the company said it wants to discuss restructuring some of its debt with creditors. EA Partners II’s $500 million of bonds due J ...

Daily Headline - global.abi.org - 07/04/2018 - 22:11 - 0 comments

UAE Court To Rule On Abraaj Founder Check Case Next Week

A United Arab Emirates court is expected to rule next week on a criminal case against Abraaj founder Arif Naqvi for issuing a check without sufficient funds, a lawyer involved in the case said on Thursday, Reuters reported. The Sharjah court case relates ...

Daily Headline - global.abi.org - 06/28/2018 - 23:06 - 0 comments

UAE Authorities Issue Arrest Warrant Against Abraaj Founder

Authorities in the United Arab Emirates have issued arrest warrants for the founder of private equity firm Abraaj and another executive for issuing a check without sufficient funds, according to a prosecution document seen by Reuters. The warrants are th ...

Daily Headline - global.abi.org - 06/26/2018 - 21:36 - 0 comments

Co-CEOs of Abraaj Investment Management Business Resign From Board

The co-chief executives of Abraaj Investment Management Ltd (AIML) are stepping down from the board of the unit, days after the Dubai-based firm agreed to sell the bulk of the business to Colony Capital, Reuters reported. This is the latest shakeup at Ab ...

Daily Headline - global.abi.org - 06/25/2018 - 21:12 - 0 comments

Saudi Shares Up on MSCI Decision, Dubai Listed Air Arabia Tumbles

Saudi shares rose at the open on Thursday, while Dubai-listed Air Arabia tumbled after the carrier revealed it had an exposure of $336 million to embattled Dubai private equity firm Abraaj, Reuters reported. The Tadawul All-Share Index was up 0.3 percent, led by financial shares, after the kingdom’s ...

Daily Headline - global.abi.org - 06/21/2018 - 22:29 - 0 comments

Dubai's Abraaj Sells LATAM, Africa Businesses to Colony Capital

Dubai-based Abraaj Group agreed to sell its Latin America, Sub Saharan Africa, North Africa and Turkey Funds management business to U.S. investment management firm Colony Capital Inc, the companies said on Thursday. The agreement comes after months of tu ...

Daily Headline - global.abi.org - 06/21/2018 - 22:37 - 0 comments

Abraaj Launches Restructuring Plan as Court Appoints Liquidators

Abraaj said a Cayman Court appointed provisional liquidators, allowing the troubled private equity group to launch a court-supervised restructuring plan, the Financial Times reported. The Dubai-based firm in a statement on Tuesday said a court order ...

Daily Headline - global.abi.org - 06/19/2018 - 21:53 - 0 comments

Abraaj Gets $50 Million Abu Dhabi Bid for Investment Management Business

In a related story, Reuters reported that an Abu Dhabi Financial Group company has made a conditional $50 million offer to buy private equity firm Abraaj’s investment management business, a document reviewed by Reuters shows. Abu Dhabi Capital Management ...

Daily Headline - global.abi.org - 06/19/2018 - 21:53 - 0 comments

Syndicate content