Americana confirms no update on stake sale to Adeptio
Kuwait Food Company (Americana) [ FOOD.KK] issues a release stating that there are no updates regarding the process of selling a controlling stake to Adeptio since the board has approved due diligence process. This comes as a response to a local paper's report that published that steps had been taken towards completion of the sale. Last month, Adeptio had signed an initial agreement to buy a 69% stake in Americana from Al Khair Holding Company, which is owned by Al-Kharafi family. (Company Disclosure)
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