Skip to content
Subscriber Only

TPG Said in Talks to Acquire Abraaj’s Spinneys Chain in Egypt

TPG Capital is in talks to buy the Spinneys supermarket chain in Egypt from Abraaj Group, in what would be the U.S. buyout firm’s first deal in the North African country, two people with knowledge of the matter said.

Fort Worth, Texas-based TPG is the preferred bidder for the business, which may be worth about $100 million, the people said, asking not to be identified because the information is private. The private-equity firm would enter into a franchise agreement with Spinneys as part of the deal, one of the people said. No final decision has been made and talks may still falter, the people said.