Abu Dhabi firm counters Cerberus' offer for Abraaj unit with $55m bid

Abu Dhabi firm counters Cerberus' offer for Abraaj unit with $55m bid

Arif Naqvi, chief executive officer of Abraaj Capital Ltd., speaks at the Milken Institute Asia Summit in Singapore, on Friday, Sept. 15, 2017. Photographer: Vivek Prakash/Bloomberg

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 LP, according to people familiar with the matter.

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