Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Company News, Business, Markets

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

TSMC Q2 profit up 60%

TSMC is the world's largest contract maker of chips.

ADNOC shifts OMV stake to XRG

XRG is ADNOC's wholly-owned international investment company.

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.

[adinserter block="5"]

Most Read

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

GCC healthcare: Transforming the region and impacting the world

PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

New-Age Growth Comes Home to the GCC

The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

[adinserter block="4"]