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Arcapita sells Caribou

Arcapita, which has been divesting of several assets recently to repay a $1.1bn Murabahah due in April 2012, offered up its remaining stake in Caribou Coffee, the second largest coffee chain after Starbucks in the US.

Arcapita bought a majority stake in Caribou in 2000 and sold a portion of the company through an IPO at $14 per share in 2005. The sale is expected to close on August 23 and is priced at $14.25, below its recent high of more than $17.

Arcapita did not respond to requests for comment.