Dubai - Mubasher: Alix Partners decided to redistribute the equity of Abraaj Group in the healthcare fund on other investors, well-informed sources said.
The sources added that this redistribution step reflects the other investors’ will to stop their business relationship with the Dubai-based ailing firm before the private equity TPG operates the healthcare fund, Reuters reported.
Alix Partners was appointed as the interim manager of the $1 billion healthcare fund until a permanent solution is reached, Reuters previously said.
The redistribution of the fund made local banks that have proposed loans to Abraaj with a guarantee of its share in the healthcare fund to consider legal procedures towards Alix Partners, the sources added, Reuters reported.
