Equity Fund to Sell Rotana Hotel Stake

1st July 2010 (Last Updated July 1st, 2010 18:30)

Dubai-based private equity fund Shuaa Capital has agreed to sell its 22% stake in Abu Dhabi-based Rotana Hotel Management. The stake will be sold to an existing Rotana shareholder. The value of the deal was not disclosed. The transaction will be complete within a few weeks

Dubai-based private equity fund Shuaa Capital has agreed to sell its 22% stake in Abu Dhabi-based Rotana Hotel Management.

The stake will be sold to an existing Rotana shareholder. The value of the deal was not disclosed.

The transaction will be complete within a few weeks following approval from the Abu Dhabi Department of Economic Development, reports Reuters.