Abraaj Founder Reaches Initial Deal On $300m Loan | Cpi Financial News | Banking And Financial News,islamic Business And Finance, Commercial Banking
The settlement is only interim and not final. : Arif Naqvi, the founder of embattled Dubai-based private equity firm Abraaj Group, reached an interim settlement with a creditor on a $300 million loan, his lawyer and a person close to the creditor said. A deal was reached last week on the entire loan although it has yet to be signed, said Naqvi’s lawyer Habib Al Mulla, executive chairman of Baker McKenzie Habib Al Mulla. They didn’t disclose the terms of the deal.