Due to delay in K-Electric deal, Abraaj Group now faces liquidation case
ISLAMABAD: An inordinate delay in finalisation of the $1.77-billion K-Electric deal has affected the business of Abraaj Group that now faces a liquidation case filed by a Kuwaiti pension fund in the Cayman Islands.
Kuwait Public Institution for Social Security (PIFSS) on Thursday said it filed a petition in the Grand Court of the Cayman Islands for the liquidation and winding up of Abraaj Holdings – the largest private equity firm in the Middle East and Africa. Hearing of the case will take place on June 29.
Published in The Express Tribune, 8th June, 2018