Udenna Corp. is exploring the sale of its Conti’s Bakeshop and Restaurant and Wendy’s fast-food chain businesses in the country, five sources told Reuters.
The petroleum-to-education conglomerate is in talks with at least one financial adviser on potentially selling both businesses together, three of the sources with direct knowledge of the matter said.
The deal could fetch as much as $200 million for the two assets combined, two of the sources added.
The sources declined to be identified as they were not authorized to speak to the media. Udenna owns Wendy’s and Conti’s through its food subsidiary Eight-8-Ate Holdings, according to its website.
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