Dubai – Mubasher: Dubai-listed Air Arabia announced that it has an overall exposure of $336 million to the UAE-based private equity firm Abraaj.
The Emirati carrier has appointed a legal representative to protect its investments in the troubled company, according to a statement to Reuters.
The embattled private equity company has been facing a slew of problems due to money misusage allegations.
Earlier in June, the group was accused of mishandling a $1 billion healthcare fund and audits discovered that the company commingled investor funds with its own money in the healthcare fund.
