Dubai's Abraaj Snags Amundi's N. Africa Business

Mideast investment firm Abraaj Capital says it has bought French asset manager Amundi's private equity business in North Africa.

The Dubai-based private equity house said Sunday the deal includes assuming control of Amundi's offices in Morocco and Tunisia and the management of a $161 million regional buyout fund. It will also acquire Amundi's stake in the fund.

Financial terms were not disclosed.

Amundi is co-owned by French banks Credit Agricole and Societe Generale.