Beleaguered PE firm Abraaj takes 70% stake in Nigerian firm by converting loan

Beleaguered PE firm Abraaj takes 70% stake in Nigerian firm by converting loan

Arif Naqvi, chief executive officer of Abraaj Capital Ltd., pauses during a Bloomberg Television interview in London, U.K. Photographer: Luke MacGregor/Bloomberg

Abraaj Group, the private-equity firm that collapsed after defaulting on debt, will get a 70 percent stake in C&I Leasing Plc by converting a $10 million loan into equity in the Nigerian company.

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