GulfBase Live Support
27/01/2015 14:30 AST
LVMH Moet Hennessy Louis Vuitton SA’s private-equity arm is in talks to acquire a stake in Saudi Arabian gourmet confectionery producer and restaurant chain Bateel, four people with knowledge of the matter said.
L Capital, backed by LVMH Group and billionaire chairman Bernard Arnault’s family holding company, is seeking a minority stake in the Riyadh-based firm, the people said, asking not to be identified as talks are private. Bateel has a presence in 14 countries across Africa, Europe, Asia and the Middle East.
Accelerating economic growth and a rising population in the Gulf region is driving increased investment in the consumer industry from companies and private-equity firms. KKR & Co. is teaming up with Dubai-based Fajr Capital Ltd. to bid for a 25 per cent stake in Azadea Group, the franchise operator of clothing chain Zara in the Middle East, people with knowledge of the matter said earlier this month.
L Capital, based in Paris, was formed in 2001 and focuses on investments in retail and luxury industries among others.
Ata Atmar, managing director of Bateel International LLC, declined to comment when contacted by phone. L Capital didn’t return calls seeking comment.
CPI Financial
Ticker | Price | Volume |
---|---|---|
SABIC | 114.77 | 5,915,941 |
05/04/2018
Saudi Arabia's Public Investment Fund (PIF) has signed an agreement with Six Flags to develop and design an amusement park in Riyadh. Six Flags, the world’s leading international amusement park compa
Arab News
05/04/2018
In an exclusive interview with Arab News, Turki Mohammed Al-Shehri explains how an expanding renewables industry will boost employment as well as pave the way for a greener future.
A massiv
Arab News
05/04/2018
Dubai’s residential property market continued to soften in the first three months of this year, in line with analysts’ forecasts, with rental values recording a more pronounced fall than sales prices
The National
05/04/2018
Buoyed by a strong oil price of $70 per barrel, Saudi Arabia’s Tadawul shot up by over 6 per cent in March 2018, according to Kuwait Financial Centre’s (Markaz’s) recently released Monthly Markets Re
Times of Oman
05/04/2018
Qatar banks’ combined credit facilities to real estate sector rose by QR17bn to QR147.7bn in 2017. The banks’ credit to various sectors stood at QR911bn at the end of 2017, up from QR839bn recorded i
The Peninsula