Abraaj Said to Delay Hospital IPO as Firm Pursues CIRA Disposal

Abraaj Group, roiled by allegations of misused money, is delaying the initial public offering or sale of its North African hospitals business while it seeks to resolve issues with investors, according to people with knowledge of the matter.

The Middle East’s largest buyout firm will delay the sale, which was originally planned for the first half, until October, the people said, asking not to be identified because the matter is private. Separately, the company is now in advanced talks to dispose of its 35 percent holding in Egyptian school operator CIRA, some of the people said.