We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Mon 7 Mar 2016 01:55 PM

Font Size

- Aa +

Dubai's Alabbar values food firm Americana at $4bn

Dubai-based investor group, led by Mohamed Alabbar, reportedly plans to take Americana private

Dubai's Alabbar values food firm Americana at $4bn

Kuwait Food Co, the MENA operator of KFC restaurants known as Americana, has been valued at about $4 billion by an investor group looking to buy out the company’s family owner, according to Bloomberg.

Dubai-based investor group aims to take the Kuwaiti company private and is currently conducting due diligence on the deal.

The consortium, led by Mohamed Alabbar, chairman of Emaar Properties, includes prominent United Arab Emirates and Saudi Arabian families, the people asking not to be identified as the information is confidential told Bloomberg.

A valuation of $4 billion represents a 36 percent premium to Americana’s market value at the close of trading on Thursday.

Adeptio was seeking to raise as much as $2 billion from banks to fund its bid, people familiar with the matter said in February.

Bloomberg failed to obtain comment from Americana while Alabbar declined to comment through an external spokesman.

Arabian Business: why we're going behind a paywall

For all the latest retail news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Real news, real analysis and real insight have real value – especially at a time like this. Unlimited access ArabianBusiness.com can be unlocked for as little as $4.75 per month. Click here for more details.