Americana says no stake sale deal reached, talks ongoing
(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.
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.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Comments
No comment