KKR, Majid Al Futtaim Said to Weigh Bids for Abu Dhabi’s Dunia - Bloomberg Business

KKR, Majid Al Futtaim Said to Weigh Bids for Abu Dhabi’s Dunia - Bloomberg Business:



"KKR & Co. and Dubai’s Majid Al Futtaim Holding are among companies weighing a bid for Abu Dhabi consumer finance firm Dunia Finance LLC, according to three people with knowledge of the matter.



Dunia’s shareholders, which include sovereign wealth fund Mubadala Development Co. and Temasek Holdings Pte unit Fullerton Financial, are seeking about four to five times book value for the company, two of the people said, asking not to be identified as the information is private. That may value Dunia at about $800 million to $1 billion, they said. Bids for the business are due this week, the people said.



Majid Al Futtaim, also known as MAF, is working with Citigroup Inc. on its planned bid, two of the people said. International investors are seeking to team up with local parties to adhere to local regulations, which allow foreign firms to own a maximum of 40 percent of a consumer finance company in the United Arab Emirates, they said. Other regional banks and private-equity firms are also weighing bids, the people said."



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