Temasek 'joins Savola in bid for Americana'

London

SINGAPORE'S Temasek Holdings has teamed up with Saudi Arabia's Savola Group to bid for Middle Eastern fast-food operator Americana - as Kuwait Food Co is known - in a deal that could be valued at between US$4 billion and US$5 billion, according to two people with knowledge of the matter.

Talks between the three companies are ongoing and a deal could be reached before the end of the year, the people said, asking not to be identified as the information is private. JPMorgan Chase & Co is advising Savola, which has a market value of about US$8.5 billion, on the talks, the people said.