date:Apr 11, 2014
A joint bid by TPG Capital and Abraaj Group has emerged as the favourite to acquire a majority stake in Saudi fast-food chain Kudu after the selling shareholders entered exclusive talks with the pair, three sources aware of the matter said on Thursday.
The two have seemingly edged out fellow private equity house KKR Co, which was also competing for the asset, sources told Reuters in November.
The move to hold negotiations with just one bidder doesn't guarantee that a deal will be agreed but s