Informed sources said that Americana Food Company It has appointed Goldman Sachs, FAB and SNB Capital to manage the offering.
Expectations regarding the size of what Americana Foods will raise from the public offering are around one billion dollars.
Americana Group operates a number of restaurant chains in the Middle East such as KFC, Pizza Hut, Baskin Robbins and Costa Coffee.
And the offering of the group affiliated with Adeptio, owned equally between Emirati businessman Mohammed Al-Abbar and the Saudi Public Investment Fund, may raise one billion dollars, according to the sources, and the listing will be either in Saudi Arabia or the UAE and may be a double listing.
Americana was last valued at $3.5 billion when it was acquired and delisted from the Kuwait market in 2017.
Eid Al-Shehri, General Manager of Future Generations for Consulting, had mentioned in a previous interview with Al-Arabiya, that in 2017, Americana was affiliated with the Al-Kharafi Group at that time, and was completely mortgaged to banks due to debts.
Al-Shehri indicated that the Al-Kharafi Group was forced to sell the company, and the profit multiplier was regarding 12 times at that time, then Adeptio bought it and shortly following that it sold 50% to the Saudi Public Investment Fund.
He stated that the company’s profits at the time were in the range of 60 million dinars, and the company’s valuation in the range of regarding one billion dinars, regarding 3.5 billion dollars, referring to the profitability multiplier was at 20 times at that time, then the company withdrew from the Kuwait Stock Exchange.