LONDON: A unit of Abu Dhabi Financial Group (ADFG) has made a fresh, US$55mil offer for the rights to manage Abraaj Group’s funds, challenging a bid from Cerberus Capital Management LP, according to sources.
Abu Dhabi Capital Management told Abraaj’s liquidators it would pay US$30mil to buy the rights to manage Abraaj’s funds and US$25mil to cover the company’s costs and end-of-service payments for employees, the sources said, asking not to be identified as the information is private.
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