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Abu Dhabi Capital Management Challenges Cerberus Bid For Abraaj Unit | Cpi Financial News | Banking And Financial News,islamic Business And Finance, Commercial Banking

by cpifinancial.net posted 3weeks ago 224 views
  Abu Dhabi Capital Management made a $50 million offer to Abraaj’s financial adviser. : A unit of Abu Dhabi Financial Group has made a fresh, $55 million offer for the rights to manage Abraaj Group’s funds, challenging a bid from Cerberus Capital Management, according to people familiar with the matter. Abu Dhabi Capital Management told Abraaj’s liquidators it would pay $30 million to buy the rights to manage Abraaj’s funds and $25 million to cover the company’s costs and end-of-service payments for employees, the people said, asking not to be identified as the information is private.