Carlyle Group to Sell Stake in Mideast’s Dominos Pizza Operator Alamar Foods - Bloomberg

Carlyle Group to Sell Stake in Mideast’s Dominos Pizza Operator Alamar Foods - Bloomberg

Carlyle Group is seeking to sell its stake in the owner of the Domino’s pizza franchise in the Middle East in an initial public offering on the Saudi stock exchange.

The US buyout firm, which has $325 billion in assets under management, is selling a 42% stake in Alamar Foods, or 10.6 million shares to retail and institutional investors, according to a statement. Carlyle acquired its stake from Saudi-based firm AlJammaz Group in 2011 for an undisclosed amount.

Carlyle bought its stake in Alamar through Carlyle MENA Partners, a fund focused on the Middle East, North Africa and Turkey. The Washington-based private equity firm dropped plans to raise a second Middle East fund in 2014, people familiar with the matter said at the time.

More details from the statement:

• Individual investor subscription period: July 20-21
• HSBC Saudi Arabia is the financial adviser, bookrunner, lead manager and underwriter
• Riyad Bank, Saudi National Bank and AlRajhi Bank are receiving entities for the individual investors tranche

Alamar is the master operator for the U.S. pizza chain, which is being operated across 16 countries in the Middle East, North Africa and Pakistan. It also has the franchise rights for U.S. chain Dunkin’ Donuts in Egypt and Morocco.