Abraaj hires EFG, Citigroup to manage IPO or sale of its North African hospital business

Abraaj hires EFG, Citigroup to manage IPO or sale of its North African hospital business: In a confirmation that Abraaj Group is indeed planning to divest stakes in its regional healthcare companies, the Dubai-based private equity firm has tapped EFG Hermes and Citigroup Inc. “to manage an initial public offering or sale of its North African hospitals business,” unnamed sources with knowledge of the matter tell Bloomberg. The company plans to pursue either an IPO or a direct stake sale with the hopes of finalizing procedures in 1H2018, they add. Abraaj Group owns “a dozen hospitals and clinics in Egypt, Tunisia, and Morocco” worth a collective USD 500 mn. We had noted previous reports that the company was mulling a listing in either London or the New York.