Riyada Enterprise Development (RED) has announced its intent to acquire a 50 percent stake in The Entertainer, a consumer services company that offers two-for-one discount vouchers for merchants in the UAE, Bahrain, Oman, Qatar, Saudi Arabia, Kuwait and Cyprus. RED is a targeted US$650 million high growth small- and mid-cap investment platform formed by Abraaj Capital, a private equity manager focused on the Middle East, Africa, Turkey and Asia. Additional financial details of the transaction were undisclosed.