The Abraaj Group Exits Orascom Construction Industries for US$52 Million (MENA)
Source(s): Nasdaq Dubai
Global growth markets investor The Abraaj Group has fully exited U.A.E.- and Egypt-listed engineering and construction contractor Orascom Construction Industries (OCI) for US$52 million. Abraaj sold 6.3 million shares, representing a 5.4 percent stake, for US$8.30 per share on Nasdaq Dubai. Abraaj first acquired a stake in OCI when the investment firm agreed to merge its fertilizer production operations into the company in 2008.