PIF shortlisted for stake in Alshaya Group’s Starbucks franchise: report

06/06/2022 Argaam

Logo of the Public Investment Fund (PIF)

The Public Investment Fund (PIF) has been named among shortlisted bidders to acquire a stake in the Middle East, North Africa and central Asia Starbucks franchise held by Alshaya Group, Reuters reported, citing unnamed sources.

 

Alshaya Group owns Starbucks franchise through hundreds of branches in the Middle East, North Africa and central Asia.

 

Kuwait-based Alshaya might sell up to 30% of the franchise to raise $4 billion-$5 billion funds.

 

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