Goldman Sachs among bidders in $10 bln Subway sale

Goldman Sachs Group Inc. is among the bidders for the U.S. based sandwich chain Subway, with an estimated price of $10 billion, according to Sky News on Saturday,

Sky News added that Bain Capital, TPG, and TDR Capital are among other bidders in the deal, while Both Goldman Sachs and TPG declined to comment yet.

The sandwich chain said that it was exploring a possible sale of its business due to the increasing prices and competition from rivals.

The restaurant brand, however, did not indicate the timing or assurance of whether a sale would occur or not.

The Wall Street Journal (WSJ) said in January that a potential sale could value Subway at around $10 billion.

Noteworthy that the company has more than 37,000 restaurants over 100 countries and has reported a jump of 9.2 percent in same-store sales for 2022.