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02-07-14

Private equity firms to buy Kuwaiti Americana

(MENAFN) Private-equity firms KKR & Co LP and TPG Capital plan to purchase a majority stake in food retailer Kuwait Food Co SAK, or Americana, according to Arabian Business. A report by Bloomberg said that there were another six groups which also wanted bidding for the stake held by the Kuwait-based billionaire al-Kharafi family. The company is expected to be valued at USD5 billion. Bloomberg said that the other potential bidders include CVC Capital Partners Ltd and Advent International Corp.