By Shane McGinley www.arabianbusiness.com
Abu Dhabi-based conglomerate Al Fahim Group, which owns 30 percent of The Big Bus Tours Company, could be in for a payday of around $184 million amidst reports the iconic open-top sightseeing brand is set to be sold to a UK private equity firm.
Last year it was revealed the owners of the company, which is partially family-backed, had hired JP Morgan to find a buy for the firm. Earlier this month, British private equity firm Exponent emerged as the frontrunner to buy The Big Bus Tours Company (TBBC), two sources familiar with the matter told Reuters.
The Mail on Sunday this week reported that the sale was close to being completed for a sale price in the range of around £400 million ($615 million).