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English news

06-Mar-2016

Americana reportedly to be taken private post acquisition by Adeptio, deal value at 36% premium to market

The consortium in talks to buy Kuwait Food Company (Americana) [FOOD.KK], Adeptio, is said to have valued the company at USD4 billion, a 36% premium to market price, according to sources close to the matter as reported by Bloomberg. Adeptio plans to take the company private after completion of the deal, the article added; the consortium plans to buy a stake from the Al-Kharafi family’s financial services firm Al Khair National for Stocks and Real Estate, which owns more than two-thirds of Americana’s shares and would also bid for the remaining shares. The valuation is subject to change after completion of due diligence on the deal. The consortium, led by Emaar Properties Chairman Mohamed Alabbar, includes prominent United Arab Emirates and Saudi Arabian families. Both parties are yet to officially confirm the valuation.  (Bloomberg)

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