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.
Follow us on
