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Dubai-based Fajr Capital has completed its investment into Middle Eastern food franchiser Cravia Group, the private equity firm said in a statement on Monday. It did not disclose the size of the stake it had acquired or the price paid for the purchase. However, Reuters reported in December that Fajr was seeking a majority stake in the company. The investment by Fajr will allow Cravia, which owns the licence to operate brands such as US bakery Cinnabon and Lebanese restaurant Zaatar W Zeit in the UAE, to fund its expansion in existing markets and new ones including Bahrain and Qatar. (reuters)
