Saudi Arabia Supermarket Chain Danube Said to Plan Stake Sale - Bloomberg Business:
"Saudi Arabian supermarket chain Danube Co. Ltd is seeking to sell a stake in a deal that would value the business at about $2 billion, according to two people with knowledge of the matter.
Bahrain-based Gulf International Bank BSC is advising Danube’s owners, the Jeddah-based Bin Dawood Group, on the sale, the people said, asking not to be identified as the information is private. Investcorp Bank BSC, also based in Bahrain, is in talks to buy a stake of about 20 percent, the people said.
The value of completed mergers and acquisitions across the Middle East and Africa fell 11 percent this year to $15.8 billion, according to data compiled by Bloomberg, amid a drop in oil prices and volatility on the region’s equity markets. Investcorp’s private equity business is its oldest and largest unit. Best known for taking luxury brands Tiffany & Co. and Gucci Ltd. public, the company hired David Tayeh from CVC Capital Partners as head of corporate investment business in North America, it said in August."
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