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Americana Restaurants International has said it is in early stages of talks to acquire a stake in Dubai-based Cravia Inc, the operator of brands such as Zaatar W Zeit, Five Guys and Cinnabon in the Middle East.
Americana did not disclose details about the size of the potential stake or the expected timeline for the transaction.
A report by Bloomberg last week suggested that the stake in Cravia may be acquired from its current private equity owner, Fajr Capital.
According to data from LSEG, Americana is 66% owned by Adeptio AD Investment SPC, a joint venture between Emaar founder Mohamed Alabbar and Saudi Arabia’s Public Investment Fund (PIF).
(Writing by Brinda Darasha; editing by Seban Scaria)
