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$8 billion IPO for KFC and Pizza Hut operator across MENA hots up

The operator of KFC and Pizza Hut restaurants in the Middle East and North Africa has hired Morgan Stanley to work on a planned initial public offering that could value the company at around $8 billion.

The New York-based bank will collaborate with First Abu Dhabi Bank PJSC, Goldman Sachs Group Inc., and SNB Capital on Americana Group's IPO, according to people who asked not to be identified because they were discussing confidential information. The IPO's financial adviser is Rothschild & Co. According to Bloomberg News, Americana, which is backed by Saudi Arabia's Public Investment Fund and an investment vehicle led by Dubai's Mohamed Alabbar, has begun preparations for a dual listing in Riyadh and Abu Dhabi that could raise up to $1 billion.

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