The Bahrain-based investment firm Arcapita is planning to sell the Irish energy firm Viridian Group for a price tag exceeding €1 billion (Dh4.12bn), Ireland's Irish Independent reported yesterday.
The Sharia-compliant company has been talking to advisers to sell Viridian, the newspaper reported, without citing sources.
Arcapita declined to comment.
Arcapita, which invests in private equity and real estate, has been making a number of exits since 2013, when it emerged from US bankruptcy under Chapter 11 rules.
It has made about US$2.4bn from 14 divestments over the past 18 months, its chief executive Atif Abdulmalik said in April.
Arcapita, in which Bahrain’s sovereign wealth fund Mumtalakat has a stake, made $800 million from the sale of the London-based rail freight operator Freightliner Group in March. In February, Arcapita exited Pods, a provider of portable storage and moving solutions for residential and business customers in North America through a sale to Ontario Teachers’ Pension Plan for more than $1bn. In January, it sold its 50 per cent stake in Qatar’s Lusail Golf Development to Qatar’s largest listed developer, Barwa Real Estate Company, for $1.4bn.
dalsaadi@thenational.ae
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