Wednesday 18, June 2008 by Mike Gallagher
Abraaj’s Saudi investors exit Saudi plane company
Saudi investors of Abraaj Capital, led by Sheikh Abdulrahman Ali Al Turki, chairman of Abraaj Capital, have sold their 30 per cent stake in National Air Services (NAS) to Kingdom Holding Company (KHC), founded by Prince Alwaleed bin Talal bin Abdulaziz Al Saud, generating a 52 per cent internal rate of return (IRR) over a two-year holding period. The implied valuation of NAS increased by four times over this period.
