By: Ahmad Awad
Kuwait-Mubasher: The market value of Kuwait Food – Americana leaped by $400 million since Adeptio concluded a deal to buy a controlling interest in the food company.
Al Khair National for Stocks and Real Estate Company, a subsidiary owned by Al-Kharafi’s family, recently announced reaching a preliminary conditional agreement to sell its 66.79% stake in Americana to Adeptio, an investment company which represents GCC investors led by Mohammad Ali Rashed Al Abbar who is the chairman of Emaar Properties.
On Monday, Americana stock surged 10% to close at KWD 2.2, while the stock’s market value gained KWD 120 million to reach KWD 884.4 million.
It’s notable that Americana’s board decided to allow the prospective buyer to carry out due diligence, as requested by major shareholder Al Khair.
