Kuwait-Mubasher: The stock of Kuwait Food Co (Americana) levelled up to reach its upper limit of KWD 2.4 at the opening of Monday’s trading session.
The stock rose despite a recent statement by Americana denying news that its assets have been valuated at $4 billion (KWD 1.2 billion) by Adeptio
Al Khair National for Stocks and Real Estate Company, a subsidiary owned by Al-Kharafi’s family, recently announced a preliminary conditional agreement to sell its 66.79% stake in Americana to Adeptio.
Recent news stories said that the bid for Americana ranged from $3.5 billion to $4 billion.,
The prospected buyer, Adeptio, is an investment company which represents GCC investors led by Mohammad Ali Rashed Al Abbar who is the chairman of Emaar Properties.
Americana’s market value increased to KWD 964 million ($3.2 billion) since the announcement of the deal when the stock was traded at KWD 1.9.
