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Saudi Wealth Fund Leads Bidding for Starbucks Franchise Stake

  • Kuwaiti conglomerate Alshaya is selling a minority stake
  • PE firms may invest in the firm’s debt alongside the PIF

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Saudi Arabia’s sovereign wealth fund has emerged as the frontrunner to buy a minority stake in Kuwaiti conglomerate Alshaya Group’s Starbucks Corp. franchise, according to people familiar with the matter.