Kuwait’s Americana still in talks over sale deal
15 Jan 2015
(MENAFN) Kuwait’s American’s biggest shareholder said that talks are still underway between them and several parties for the sale of the company, Gulf Business reported.
The company, in which al-Kharafi family are its biggest shareholders, is the operator of franchises of restaurant chains including KFC and Pizza Hut around the region
The talks, which started last year, are being conducted with private equity funds KKR and CVC, which have been the frontrunners in a bidding process that also attracted interest from other companies including Saudi food producer Savola Group.
“Talks are still ongoing with several parties and we are still in the process of looking into our strategic options to evaluate our investments in Kuwait Food Co,” Al Khair National for Stocks and Real Estate Co, an entity owned by the Kharafi family, said.
The Kharafi family own 66.8 percent of the Kuwait Food Co through private investment company MAK (Mohammed Abdulmohsin al-Kharafi & Sons), while selling the products of sunder the brand name Americana, with the company reportedly having a market value of USD3.72 billion.