(MENAFN - Emirates News Agency (WAM)) Dubai-based Abraaj
Capital and Sabre Capital, through their recently formed
joint venture Sabre Abraaj, announced today the
acquisition of a strategic stake in Ramky Infrastructure
Limited (Ramky), part of the Ramky Group, a rapidly
growing infrastructure construction and development firm
based in Hyderabad, India.
This acquisition marks the first investment by the recently launched US$300 million Sabre Abraaj India Private Equity Fund Limited. The Fund seeks to take majority or strategic minority stakes in both listed and unlisted Indian companies.
Ramky has a growing contracting business in the
construction of roads, highways, industrial buildings,
housing, irrigation canals, water supply and drainage
systems. The company has also invested in an industrial
park and housing development projects on a
Build-Operate-Transfer (BOT) basis in partnership with
the Indian government. Ramky will use the new capital in
order to take on larger construction projects and make
additional investments in BOT projects.
Abraaj Capital is a premier investment firm specializing in private equity investment in the Middle East, North Africa and South Asia (MENASA) region.
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