(MENAFN) Hong Kong-based private investment fund HPF agreed to acquire Jordan Dubai Capital for USD130 million, Reuters reported.
HPF had allocated USD150 million to seek projects with up to seven-year timespans in Egypt, Libya, Morocco and other countries.
Mahesh Harilela, a majority holder in HPF said that the deal will give the January-set up fund the opportunity to expand its portfolio in the Middle East, where it was targeting investment areas such as infrastructure and real estate development.
The deal, which will retain the Amman-based firm's management, did not require Jordanian regulatory approval, he added.
Jordan Dubai Capital, set up in 2005 by Dubai Capital, has been giving up most of its once USD1.5 billion portfolio since the wake of the global financial crisis of 2008.
The private equity firm's largest divestment was the sale last year of a 51 percent stake in Jordan's Central Electricity Generating Company (CEGCO), the country's largest power generating firm.
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