PHOTO
An Orascom construction worker poses at Egypt's new administrative capital, approximately 45 km (30 miles) north of the current capital Cairo, Egypt October 18, 2017. Picture taken October 18, 2017.
DUBAI - Embattled private equity firm Abraaj has sold its entire 5.4 percent stake in Orascom Construction Ltd for about $52 million.
The move came after the company crossed a 5 percent filing threshold on June 6, Abraaj said in statement in Dubai.
Abraaj is facing two lawsuits from creditors over the non-payment of debt and is battling allegations that it misused investor money in a $1 billion healthcare fund, a charge it denies. (Reporting by Saeed Azhar; Editing by Subhranshu Sahu)
© Reuters News 2018
