Savola Said to Hire JPMorgan for $4 Billion Americana Bid - Bloomberg:
"Savola (SAVOLA) Group, a Saudi Arabian food producer, hired JPMorgan Chase & Co (JPM) to advise on a potential bid for the operator of KFC restaurants in the Middle East and North Africa, according to four people with knowledge of the matter.
Non-binding bids for the $4.3 billion Kuwait Food business, known as Americana, are due next month, the people said, asking not to be identified as the information is private.
KKR & Co. (KKR) and CVC Capital Partners Ltd. have submitted a joint offer while TPG Capital Management LP is also bidding, the people said. Advent International Corp., which participated in the first round of bidding, has dropped out, they said. International banks are lining up financing of between $1 billion to $3 billion for the firms, according to the people."
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