(MENAFN) Kuwait Food Co (Americana) announced that Al Khair National for Stocks and Real Estate Co, a major shareholder, is currently in preliminary talks with different parties regarding the sale its stake in Americana, Arabian Business reported.
The company, which has a market value of around USD4.3 billion, is 66.8 percent owned by Al Khair which is owned by the al-Kharafi family and that the family has hired investment bank Rothschild to explore a possible sale.
Al Khair said that several factors could affect the selling of its stakes including regulatory and legal approvals which includes one by the U.S. Department of Justice and the determination of a fair price for the company.
One of the parties interested in the deal is Saudi's Savola Group, which said earlier this year that it had held preliminary talks with one of Americana's major shareholders about a potential deal.
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