LVMH-Backed L Catterton Weighs Selling Stake in Saudi Arabia's Bateel [BNN Bloomberg (Canada)]
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The investment firm is working with UBS Group AG on the sale, the people said asking not to be identified as the information is private. L Catterton, which invested in Bateel in 2015 to support an international expansion plan, is seeking to sell its entire holding of about 20%, according to one of the people. New investors may also be offered the chance to buy additional shares in Bateel from the Al Sudairy family — who own a majority stake — to help raise money for the company's expansion, the people said. Representatives for UBS and Bateel declined to comment, while L Catterton didn't respond to requests for comment. New from Bloomberg: Get the Mideast Money newsletter, a weekly look at the intersection of wealth and power in the region. Bateel began as a date farming business established by the Al Sudairy family in the 1930s before branching out into cafes and boutiques selling gourmet food. L Catterton's investment was a relatively rare example of an international priva
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