Abraaj sells stake in Kenyan insurance company UAP Holdings to Old Mutual

Abraaj has exited the East African insurance company UAP Holdings through the sale of its 13.6 per cent stake, the Dubai-based private equity firm said today.

Old Mutual, a London-listed international investment, savings, insurance and banking group, bought the stake for an undisclosed price.

Abraaj had invested in UAP through one of its funds in 2012, alongside the Tunisian private equity and venture capital firm Africinvest Group and the Swedish investment company Swedfund.

Read more: Abraaj sells stake in UAP Holdings | The National