Abraaj Capital
In the earlier part of 2008, Saudi Al-Jomaih, approached Abraaj Capital, a leading private equity firm based in Dubai, with a proposal for a potential stake in KESC. The deal was eventually finalized in October 2008 at a ticket price of $ 361 million for a significant equity stake in the Company, which grants Abraaj Capital full management control. Abraaj Capital has brought in a professional management team with over 41 senior managers to immediately address the management crisis at KESC. The team is being headed by Tabish Gauhar, KESC’s Chief Executive Officer (CEO).
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