We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Tue 13 Sep 2016 08:51 AM

Font Size

- Aa +

Abraaj sells off stake in Colombian discount retailer

UAE investment giant sells investment in Koba International Group for undisclosed amount

Abraaj sells off stake in Colombian discount retailer
Arif Naqvi is the Founder and Group Chief Executive of The Abraaj Group.

Abraaj
Group has said it has sold the stake it bought in a Colombian retailer six
years ago.

The
UAE-based private equity giant sold its investment in Koba International Group
to another private equity firm, Capital Group Private Markets.

The value of the deal was not disclosed.

Koba
operates the D1 chain of discount supermarkets in the South American nation.
Abraaj bought the stake in 2010, shortly after Koba began operations, when the
retailer ran around 20 stores. The company now has almost 500 stores and 5,000
employees.  

“Our exit supports
the Abraaj investment thesis of combining our financial and operating
experience across growth markets with well managed companies who are positioned
for success,” Daniel Wasserman, managing director of Abraaj Group in Colombia,
said in a statement.

Arabian Business: why we're going behind a paywall

For all the latest GCC news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.