TPG, Abraaj team up against KKR for Saudi fast-food chain

TPG Capital and Abraaj Group have teamed up to compete against KKR & Co as the private equity firms eye a majority stake in Saudi Arabian fast-food chain Kudu, three banking and industry sources told sister news service Reuters.

Riyadh-based Kudu, which operates more than 200 restaurants in the kingdom, is owned by four individual shareholders, including chairman and chief executive Abdulmohsen Bin Abdulaziz Al Yahya, according to data from Zawya, a Thomson Reuters unit. Abraaj, the Middle East’s ...

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