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Kuwait’s Americana Jumps After KKR, TPG Said to Weigh Bids

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July 1 (Bloomberg) -- Kuwait Food Co., the Middle Eastern food manufacturer and restaurant operator known as Americana, jumped the most in more than a year as private-equity firms consider bidding for a majority stake in the company.

Americana shares rose 3.6 percent to 2,880 fils in Kuwait trading, the most since May 2013, valuing the company at about $4.1 billion. The stock has gained about 14 percent this year.

KKR & Co. and TPG Capital are among at least six private-equity groups exploring the purchase of Americana from the biggest shareholder, the Al-Kharafi family, people with knowledge of the matter said yesterday. Other bidders interested in Kuwait Food, which could be valued at about $5 billion, include CVC Capital Partners Ltd. and Advent International Corp. the people said.

Americana, founded in 1964, is the franchise operator of restaurants such as KFC, TGI Friday’s Inc. and Pizza Hut in the Middle East and North Africa region. It also manufactures produce including California Garden beans and Farm Frites frozen vegetables.

To contact the reporter on this story: Dinesh Nair in London at dnair5@bloomberg.net

To contact the editors responsible for this story: Aaron Kirchfeld at akirchfeld@bloomberg.net Jon Menon, Dylan Griffiths

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