A majority stake in Saudi fast food chain Kudu has been put up for sale and private equity firm KKR is among the bidders, Reuters has reported, citing four banking and industry sources. The sale of the Kudu stake was triggered by strategic differences between the shareholders, three of the sources said. Founded in 1988, Riyadh-based Kudu operates more than 200 restaurants in the kingdom and is expected to record a net income of nearly SR100m ($26.7m) this year, one of the sources said. Based on a valuation of 10-15 times earnings, Kudu may be valued at between SR1bn to SR1.5bn, a second source said.
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