Colony NorthStar walks away from talks to buy stake in Abraaj fund unit

Colony NorthStar walks away from talks to buy stake in Abraaj fund unit

FILE PHOTO - Arif Naqvi, Founder and Group Chief Executive of Abraaj Group attends the annual meeting of the World Economic Forum (WEF) in Davos, Switzerland, January 17, 2017. REUTERS/Ruben Sprich

Colony NorthStar Inc. has ended talks to buy a majority stake in the fund-management unit of embattled Abraaj Group, which has been roiled in recent months by allegations of misused funds, according to people with knowledge of the matter.

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