Abraaj Capital Ltd., the biggest private equity firm in the Middle East, may conclude an investment in Saudi Arabia within three months and is looking at a “number of deals” in Turkey, a senior official said.
“For at least one of them we expect it will be fairly imminent,” Chief Executive Officer Mustafa Abdel Wadood said in an interview at the World Economic Forum in Istanbul. “I would like to think within the next two to three months.”
The Dubai-based company is in talks on three investments in Saudi Arabia valued as much as $150 million each, Ahmed Badreldin, a senior partner, said in April. Abraaj oversees about $7.5 billion across more than 30 emerging market countries. The private equity firm agreed in February to buy London-based Aureos Capital Ltd., which specializes in investing in small- and medium-sized firms.
Abraaj is also looking to invest in Turkey after it sold its 50 percent stake in the nation’s largest hospital chain, Abdel Wadood said. “If anything, we would like to get more exposure there and we are looking at a number of sectors and there are a number of deals that we’re active in an looking at.”
Time Warner Inc. (TWX:US) and Abraaj placed binding bids for ATV television channel owned by Istanbul-based Calik Holding AS, two people with direct knowledge of the situation said last month. Abdel Wadood declined to comment on it.
The firm has yet to set a time for a possible initial public offering of its shares, he said. “Would it make sense at one point in time? Yes! But there is no urgency or specific need.”
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