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27-05-14

Abraaj Group buys Thailand's KPN Academy

(MENAFN) Middle East private equity firm Abraaj Group has announced the purchase of an education provider in Thailand, according to Khaleej Times. Abraaj, which manages USD7.5 billion, has bought a stake in out-of-school education provider KPN Academy, without mentioning the purchase price. The political instability and the imposition of military rule after months of wrangling between government and anti-government activists were the main reasons behind the purchase. The value of initial public offerings has tumbled 72 percent in 2014 compared to 2013 to reach USD647.6 million, while that of mergers and acquisitions has dropped 60 percent to USD2.8 billion.