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Abraaj frontrunner for stake in Al Raya

Dubai-based private equity firm Abaaj has revealed itself as the frontrunner to acquire a majority stake in Saudi supermarket chain Al Raya Foodstuff in a deal that could be worth up to US$300m. Levant Capital and Citi Venture Capital International (now of TRG) bought the stake in Al Raya in 2012 for US$100m.
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