Informed sources said Americana Foods has hired Goldman Sachs, FAB and SNB Capital to manage the offering.
Expectations about the size of what Americana Foods will reap from the public offering are roughly $ 1 billion.
Americana Group operates a number of restaurant chains in Middle East like KFC, Pizza Hut, Baskin Robbins and Costa Coffee.
And the Adeptio-affiliated group’s offer, which is equally owned by Emirati businessman Mohammed Al-Abbar and the Saudi Public Investment Fund, could raise a billion dollars, according to sources, and the listing will be either in Saudi Arabia or the UAE and it could be a double list.
Americana was last valued at $ 3.5 billion when it was acquired and removed from the Kuwait market in 2017.
Eid Al-Shehri, General Manager of Future Generations for Consulting, he had mentioned in a previous interview with Al-Arabiya who in 2017 Americana was affiliated with the Al-Kharafi Group in at that time, and was fully mortgaged to the banks due to debt.
Al-Shehri indicated that the Al-Kharafi group was forced to sell the company and that the profit multiplier was about 12 times in that moment, then Adeptio bought it and shortly thereafter sold 50% to the Saudi Public Investment Fund.
He claimed that the company’s profits at the time were in the range of 60 million dinars and the valuation of the company in the range of around one billion dinars, around 3.5 billion dollars, referring to the profitability multiplier was at 20. times in that moment, then the company withdrew from the Kuwait Stock Exchange.
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