Cairo – Mubasher: Cleopatra Hospital Company has confirmed that Abraaj Group, an Emirati private equity fund manager, does not own any direct stake at the Egyptian company.

The Egypt-listed firm added that Abraaj owns only less than 5% of its shares indirectly “through its investment as a limited partner in the private equity funds it manages”, according to an official statement released on Thursday.

Cleopatra Hospital is a Cairo-based private hospital group employs over 4,000 Egyptians.  

Earlier in June, Orascom Construction Ltd announced that Abraaj Group sold its stake in the Egyptian company, which amounts to 5.4%.

Abraaj has been facing money misusage allegations, which dragged down the Emirati company.