Abraaj to close major stake acquisition of Kudo soon

22 Oct 2014

(MENAFN) Abraaj Group, the private equity firm, said it is hoping to close the deal alongside its partner TPG Capital, which will entitle them to buy a majority stake in Kudu, the Saudi fast-food chain, Emiraes 24/7 reported.

The deal will come after months of exclusive negotiations for the Middle East’s largest private equity firm to buy a controlling holding in the Saudi food group in a deal which could reach USD400 million , currently owned by four shareholders, which if signed will also mark TPG’s first investment in the Middle East.

The Group also said that it is near to closing two acquisition deals in North Africa probably by the end of the year, which will include a deal for buying the Egyptian snack maker Bisco Misr, which the company made the approach to buy at least 51 percent in it earlier this year.

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