TPG/Abraaj in exclusive talks for Saudi fast-food chain - sources

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(adds further detail, background) By David French and Mirna Sleiman DUBAI, April 10 (Reuters) - A joint bid by TPG Capital and Abraaj Group has emerged as the favourite to acquire a majority stake in Saudi fast-food chain Kudu after the selling shareholders entered exclusive talks with the pair, three sources aware of the matter said on Thursday. The two have seemingly edged out fellow private equity house KKR & Co, which was also competing for the asset, sources told Reuters in **vember. Should the private equity pair complete a deal, it will be TPG's first investment in the Middle East. Abraaj, the Middle East's largest private equity firm, previously bid on its own for the stake but later teamed up with TPG.

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