Adeptio, the UAE-based consortium backed by Mohamed Alabbar seeking to acquire a majority stake in Kuwait Food Company (Americana) [FOOD.KK] has completed due diligence. Results are expected to be announced "in the coming period", according to disclosure on 7 April 2016. Adeptio, looking to buy out a 69% stake, did not request an extension of the due diligence period according to Americana's main shareholder Al Khair for Stocks and Real Estate, owned by the Al-Kharafi family. On another note, Americana's board is seeking shareholder approval to sell bonds in an unspecified currency as well as authorisation to buyback or sell up to 10% or the company's shares. The company's general assembly is set to convene on 24 April 2016. (Reuters, Bloomberg)