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A unit of Abu Dhabi Financial Group has made a fresh offer for the rights to manage Abraaj Group's funds, challenging a bid from Cerberus Capital Management LP, according to people familiar with the matter. Abu Dhabi Capital Management told Abraaj's liquidators it would pay $55 million to buy the rights to manage Abraaj's funds and cover end-of-service payments for employees, the people said, asking not to be identified as the information is private.Cerberus had bid $25 million, people familiar with the matter said previously.
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