Arbaaj capital says court decision to liquidate holding firm separately from the investment arm will have minimal impact on its portfolio.

The Dubai PE firm owns Java Coffeehouse as well as10 percent stake in milk processing firm Brookside dairy, 21 percent stake in seven seas technology and 56.2 percent stake in Avenue Healthcare.

These businesses are however categorized under the Abraaj Africa Fund III which will fall under the Abraaj’s Investment Management Limited.

The court granted the dissolution of Abraaj Holdings under PwC’s Simon Conway, Michael Jervis, and Mohammed Farzadi.

It also granted the joint provisional liquidators of Abraaj investment arm to appoint Deloitte’s David Soden and Stuart Sybersma.

“The court-supervised restructuring of AH will have minimum impact on the day-to-day operations of the management of the Funds and their portfolio companies,” the firm said in a notice.

The investment firm is already attracting suitors with Reuters reporting that Abu Dhabi Financial Group company has made a conditional $50 million offer to buy private equity firm Abraaj’s investment management business.

New York-based Cerberus Capital Management had also offered $125 million before the private equity firm was placed under liquidation.