(MENAFN) Kuwait Food Co, known as Americana, said it is not aware of any bids for a stake in the company and there have been no developments that would lead any unusual trading in its shares.
Americana has seen its shares rise 14 percent after Bloomberg said that Singapore's Temasek Holdings and Saudi's Savola Group have teamed up to bid for the Kuwaiti firm in a deal valued between USD4-USD5 billion.
The Kuwaiti firm said neither its board nor executive management had received any bids or related information from Al Khair Company, referring to the entity which owns the Kharafi's 66.8 percent stake.
Americana's shareholders have been in talks since early 2014 about selling a stake in the firm with private equity funds KKR and CVC previously among the main contenders.
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