(MENAFN) Kuwait Food Co, better known for Americana, said it hasn't received any bidding offers for a stake in the company to date, the firm said in a statement.
Americana, backed by Kuwait's billionaire al-Kharafi family, said talks were still ongoing with several parties, but still no deal was reached with any, denying all rumors going on.
The company's shares rose after Bloomberg reported that Singapore's Temasek Holdings and Saudi's Savola had teamed up to bid for the firm in a deal valued between USD4-USD5 billion.
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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