Temasek Said to Join Savola in Bid for KFC Operator Americana - Bloomberg Business

Temasek Said to Join Savola in Bid for KFC Operator Americana - Bloomberg Business:



"Singapore’s Temasek Holdings Pte has teamed up with Saudi Arabia’s Savola Group to bid for Middle Eastern fast-food operator Kuwait Food Co. in a deal that could be valued at between $4 billion to $5 billion, according to two people with knowledge of the matter.



Talks between the three companies are ongoing and a deal could be reached before the end of the year, the people said, asking not to be identified as the information is private. JPMorgan Chase & Co. is advising Savola, which has a market value of about $8.5 billion, on the talks, the people said.



Savola had bid on its own to acquire Americana, as Kuwait Food is known, at the end of last year, people with knowledge of the matter said in December. A buyout group including KKR & Co. and CVC Capital Partners Ltd. also bid to acquire the Kuwaiti company after it began a sale process in mid-2014, the people also said."



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