By: Ahmed Awad
Kuwait – Mubasher: Kuwait Food – Americana will release its pledged shares from local banks during October, sources told Mubasher on Thursday.
Speaking on condition of anonymity, they added that banks were waiting for approvals form the Central Bank of Kuwait (CBK) and the Capital Markets Authority (CMA) to complete the transfer of shares.
Al Khair National for Stocks and Real Estate Company owns a 67% stake in Americana, amounting to 268 million shares totally pledged to a number of local banks; including the National Bank of Kuwait (NBK), Gulf Bank of Kuwait, Ahli United Bank and Al Ahli Bank.
Al Khair said on Wednesday that it has completed all conditions related to finalising the deal of selling its stake in Americana to UAE’s Adeptio AD Investments.
Translated by: Elwy el-Manzalawy
