Americana Stake for Sale
World Economy

Americana Stake for Sale

Kuwait Food Co (Americana) has edged closer to completing the sale of a controlling stake to a Dubai-based investment firm, the chairman of the consumer foods firm told reporters on Sunday, Arabian Business reported. Adeptio, the investment firm, has not extended due diligence on Americana after an April 7 deadline, Americana Chairman Marzouk al-Kharafi said on the sidelines of a shareholder meeting, which he interpreted as a “positive sign.” Kharafi also dismissed as “speculation” media reports about the size of the transaction and said that he did not anticipate any regulatory hurdles associated with the deal. Adeptio said in February it had signed an initial agreement to buy a 69% stake in Americana from the Al Khair holding company, which is owned by Kuwait’s al-Kharafi family. The investment firm is led by one of Dubai’s top businessmen, Mohamed Alabbar, who is also the founder and chairman of the emirate’s biggest real estate developer, Emaar Properties. Kharafi said he expected growth for Americana if the transaction closes.


Short URL : http://goo.gl/7OIk8d
  1. http://goo.gl/smZefs
  • http://goo.gl/oLlsUw
  • http://goo.gl/Al2pcT
  • http://goo.gl/mCZCxO
  • http://goo.gl/I6riZS

You can also read ...

Debt to GDP ratios across the OECD averaged 73% last year and its members are set to borrow $14.67 trillion from the markets this year.
The world economy is at risk from a rising tide of government...
US has accused ABLV of money laundering and breaching  sanctions on North Korea.
The European Central Bank said Saturday it has determined that...
S&P Ups Russia to Investment Grade
Russia received a long-awaited upgrade to its sovereign rating...
China’s Geely Buys $9 Billion Daimler Stake
The founder of Zhejiang Geely Holding Group Co. has...
Mexico Hosts 39 Million Tourists, Earns $21 Billion
Mexico saw record revenues from international tourism in 2017...
Thorny issues such as content rules for  cars remain unsolved.
It’s looking increasingly likely Nafta talks will extend...
Peru Deficit Narrows
Peru had a current account deficit of 1.3% of the gross...
Manafort Indictment Spells Trouble for Bankers
Recently filed federal charges against President Donald Trump’...