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Company News, Business, Markets

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

PIF to bid for Starbucks stake

Starbucks is one of the biggest coffee house chain based in Seattle
By TRENDS Desk
February 17, 2022 11:10 pm
  • Abu Dhabi’s ADQ and Mubadala Investment Co. also submitted separate non-binding offers to buy 30 percent stake.
  • Brookfield Asset Management Inc., CVC Capital Partners also have shown interest in buying the shares of Starbucks.

Saudi Arabia’s Public Investment Fund is one amongst the many bidders for a stake in Alshaya Group’s Starbucks Corp. franchise, local media reported.

Abu Dhabi’s ADQ and Mubadala Investment Co. have also submitted separate non-binding offers to buy 30 percent stake in Starbucks Corp.

The other bidders who are interested to buy shares in Starbucks include Brookfield Asset Management Inc., CVC Capital Partners, GIC Pte., Temasek Holdings Pte. and Dubai Holding LLC.

JPMorgan Chase & Co. is handling the selling process on behalf of the Kuwaiti conglomerate.

Reportedly, the owners of Starbucks franchise have valued the business at $15 billion.

However, prospective buyers value it at around $11 billion.

Alshaya, founded in 1890, is touted to be the oldest company in Kuwait. Starbucks, based in Seattle, is Alshaya’s biggest franchise.

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