Saudi Arabia’s supermarket chain, Danube Co. Ltd, is seeking to sell a stake in a deal that would value the business at about $2 billion, Bloomberg reported citing unnamed people with knowledge of the matter.
Bin Dawood Group, the owner of Danube, has appointed Bahrain-based Gulf International Bank BSC as financial advisor to the deal, the report said.
Bahrain-based Investcorp Bank BSC is in talks with the owner to acquire a 20 percent stake in the company.
Danube Co. was launched in 1987, and is considered as one of the largest retailers of foodstuff and luxury items in Saudi Arabia.
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