Dubai – Mubasher: UAE’s Abraaj Group announced the divestiture of its shareholding in the Morocco-based Saham Finances.
The International Finance Corporation (IFC) and the IFC African Latin American and Caribbean Fund (ALAC) will also exit their shareholding alongside Abraaj.
Abraaj and its partners will sell 30% of Saham to Sanlam Group and 7.5% to Saham Group, the company added.
The deal is subject to approval of competent authorities and is expected to close in early 2016.
