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KKR, Abraaj to make second round bids for Saudi fast food chain Kudu

16 Sep 2013

saudi arabia mosque sunset islamPrivate equity firms KKR and Abraaj Group are reportedly in competition to buy a 60 per cent interest in Saudi Arabian fast food restaurant chain Kudu.

The two firms have been shortlisted for the second stage of bidding for the business, said Bloomberg, citing two people familiar with the matter.

The sale is managed by banking group HSBC’s Saudi unit, said the sources.

Kudu, which operates 200 restaurants, is expected to be valued at between SAR1.5bn ($400m) and SAR2bn.

One of the people said that Dubai-based Abraaj also plans an initial public offering of oil and gas services provider Stanford Marine Group, which could come as soon as in the first quarter of 2014.

Last week Abraaj backed Moroccan pharmaceutical products provider Steripharma.

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