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FINANCIAL NEWS
Kuwait’s Americana denies any knowledge of Savola acquisition.
19 Aug 2014
(MENAFN) Kuwait Food Company (Americana) said it has no knowledge regarding any talks of a possible acquisition by Saudi’s Savola Group, Arab News reported.
The board denied any knowledge of any negotiations between the two companies, saying that a recent meeting was intended only to discuss the possibility of joint cooperation in some fields and markets.
Savola announced last week that it had begun preliminary talks regarding a possible acquisition of American.
Meanwhile reports indicated that Al Kharafi family, the majority shareholders of Americana, were considering the possibility of selling the company.
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