Abu Dhabi Investors and Indian Conglomerate in Africa telecom venture

The Dhabi Group, one of the investment firms from Abu Dhabi, and Essar Group, the Indian conglomerate, announced that they have agreed to enter into exclusive discussions in relation to an investment by Essar Group into the telecommunications portfolio of Dhabi Group’s African assets.

The transaction will involve an equity infusion into these businesses as growth capital and will be the basis of a partnership to create a significant presence in Africa. No further details on the transaction were revealed by the two groups.