Deals
Amazon Said to Consider Bid for Stake in Dubai’s Souq.com
- Souq.com advisers reached out to several potential bidders
- Stake sale may also draw interest from private equity firms
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Amazon.com Inc. is weighing a bid for a stake in Dubai-based online retailer Souq.com FZ as the e-commerce giant seeks to expand in the Middle East, according to people with knowledge of the matter.
The stake, representing at least 30 percent of the company, is also drawing interest from private equity firms and regional, family-owned companies seeking to expand into web sales, the people said, asking not to be identified as the information is private. Souq.com’s advisers reached out to a large number of potential bidders for the holding, which may value the company at least $1.2 billion, the people said. No final decisions have been made, and the company has not agreed to a deal with any of the parties, the people said.