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17-08-14
Dubai's Abraaj Group near deal to buy Saudi Kudu
(MENAFN) Dubai-based Abraaj Group and TPG Capital, a US buyout firm, are reportedly closing in on a deal to purchase a majority stake in Kudu, the Saudi Arabian fast food chain, Arab News reported.
The transaction, which is expected to be signed by early September, is set to value Kudu at approximately USD500 million.
Kudu, which is owned by four individual shareholders, operates about 200 outlets in the kingdom, its products ranging from breakfasts, grilled chicken sandwiches and burgers.
Abraaj and TPG are currently in talks with several banks to borrow around USD187 million to finance the Kudu acquisition.
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