(MENAFN) Private equity firms Abraaj and TPG Capital have signed a deal to buy a majority stake in Saudi Arabian fast-food chain Kudu, sources aware of the matter showed, Arab News reported.
The deal is a first in the region for TPG, which manages about USD65 billion capital according to its website, and highlights a growing level of interest among international private equity players for assets in the Middle East.
It also joins a growing list of deals for consumer-focused firms in the Gulf region, which are drawing buyers' attention because they grant access to a young and increasingly wealthy population.
Abraaj and TPG declined to comment. Kudu couldn't be reached for comment.
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